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Massachusetts -HB 4380 amends LLC Act

House Bill 4380 (Chapter No. 371-2014) signed by the governor and effective November 10 amended the Limited Liability Company Act to clarify that upon dissolution, and notwithstanding the filing of a certificate of cancellation, a LLC continues its existence but may not carry on any business except as necessary in connection with the winding up of its affairs or distributing its assets.