A Delaware lawmaker has rekindled a legislative effort to tighten statutes governing the formation and oversight of foreign limited liability companies, a move that has again put him and other reform advocates at odds with attorneys and state officials.
On Jan. 26, state Rep. John A. Kowalko Jr., D-Newark South, filed a bill that would require registered agents, acting on behalf of individuals or entities, to screen the applicants for their compliance with a range of federal laws. Under the legislation, known as HB 57, the agents would be able to block a prospective LLC’s certification, if it is deemed to be a threat to national security.
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