Marla Norton, a director in Bayard’s Business Entity and Commercial Transactions practice group, participated in the spring meeting of the Uniform Law Commission’s (“ULC”) Drafting Committee on Series of Unincorporated Business Entities in San Diego, California, from January 31 – February 2, 2014.
As an American Bar Association (“ABA”) Business Law Section Advisor and a Delaware business attorney, Marla provided insight into the use of series in Delaware alternative entities. Delaware was the first state to incorporate the series concept into its laws governing limited liability companies, limited partnerships and statutory trusts. Its laws have since served as a model for series legislation in other states. The ULC drafting process is designed to provide states with non-partisan, well-conceived and well-drafted legislation that brings clarity and stability to critical areas of state statutory law. The ABA appoints members of interested ABA Committees as advisors to ULC drafting projects in order to provide input based on their experience and familiarity with the subjects of the proposed laws.
The ULC, formerly known as the National Conference of Commissioners on Uniform State Laws, is a non-profit unincorporated association established in 1892, comprised of state-appointed Commissioners from each state, the District of Columbia, the Commonwealth of Puerto Rico, and the U.S. Virgin Islands. Additional information on the Uniform Law Commission and this and other drafting projects can be found at uniformlaws.org.