§ 48-2c-1902. Transitional provisions.

(1) Each limited liability company formed prior to July 1, 2001, under the laws of this state, and existing on July 1, 2001:

(a) shall continue in existence with all rights and privileges applicable to limited liability companies formed under this chapter;

(b) need not amend its articles of organization to include the address of its designated office if it includes the information in its first annual report filed with the division after July 1, 2001, and in all subsequent annual reports; and

(c) that provides professional services as defined in Part 15, Professions, of this chapter, need not amend its articles of organization to comply with Section 48-2c-1509 if it includes the information in its first annual report filed with the division after July 1, 2001, and in all subsequent annual reports.

(2) All domestic companies formed prior to July 1, 2001, under the laws this state, as well as their managers, members, and assignees of members, as applicable, shall have all the rights and privileges and shall be subject to all the requirements, restrictions, duties, liabilities, and remedies prescribed in this chapter.

(3) Each foreign limited liability company authorized to transact business in this state as of July 1, 2001, is subject to the provisions of this chapter, but is not required by reason of enactment of this chapter to obtain a new certificate of authority to transact business in this state.

Enacted by Chapter 260, 2001 General Session