LEGISLATIVE BUDGET BOARD Austin, Texas FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION March 30, 2009 TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1773 by Fraser (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced No significant fiscal implication to the State is anticipated. The bill would apply certain provisions relating to the limitations on liability afforded to corporate shareholders, subscribers for shares, and assignees to a limited liability company and the companys members, owners, assignees, and subscribers. The bill would be effective September 1, 2009. Local Government Impact No significant fiscal implication to units of local government is anticipated. Source Agencies:307 Secretary of State LBB Staff: JOB, JRO, BTA
LEGISLATIVE BUDGET BOARD
Austin, Texas
FISCAL NOTE, 81ST LEGISLATIVE REGULAR SESSION
March 30, 2009
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce FROM: John S. O'Brien, Director, Legislative Budget Board IN RE:SB1773 by Fraser (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
TO: Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
FROM: John S. O'Brien, Director, Legislative Budget Board
IN RE: SB1773 by Fraser (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
Honorable Troy Fraser, Chair, Senate Committee on Business & Commerce
John S. O'Brien, Director, Legislative Budget Board
John S. O'Brien, Director, Legislative Budget Board
SB1773 by Fraser (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
SB1773 by Fraser (Relating to the applicability of certain laws governing corporations to limited liability companies.), As Introduced
No significant fiscal implication to the State is anticipated.
No significant fiscal implication to the State is anticipated.
The bill would apply certain provisions relating to the limitations on liability afforded to corporate shareholders, subscribers for shares, and assignees to a limited liability company and the companys members, owners, assignees, and subscribers. The bill would be effective September 1, 2009.
The bill would apply certain provisions relating to the limitations on liability afforded to corporate shareholders, subscribers for shares, and assignees to a limited liability company and the companys members, owners, assignees, and subscribers. The bill would be effective September 1, 2009.
Local Government Impact
No significant fiscal implication to units of local government is anticipated.
Source Agencies: 307 Secretary of State
307 Secretary of State
LBB Staff: JOB, JRO, BTA
JOB, JRO, BTA