Harsh Arora, with Kelley Kronenberg. Plan for Fla. LLCs: Statutory Remedies Available as a 'Vaccine' to Prevent Judicial Dissolution
In anticipation of the COVID-19 economic recovery in 2021, a closer look at the Florida Revised Limited Liability Company Act (FRLLCA) confirms that a "vaccine" is available in form of statutory remedies to prevent a judicial dissolution and give businesses an opportunity to continue and plan for 2021.
January 11, 2021 at 09:34 AM
8 minute read
In anticipation of the COVID-19 economic recovery in 2021, a closer look at the Florida Revised Limited Liability Company Act (FRLLCA) confirms that a "vaccine" is available in form of statutory remedies to prevent a judicial dissolution and give businesses an opportunity to continue and plan for 2021. According to the Florida Division of Corporations, as of October 5, 2020, there were approximately 1,473,881 active LLCs within Florida. Given how many entities the FLLCRA regulates, understanding its provisions as it relates to judicial dissolution is critical to save the businesses of active LLCs so that they can best navigate their options during this economic downturn.
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