|SENATE PROPOSAL OF AMENDMENT||2007-2008|
An act relating to relating to low-profit limited liability companies.
The Senate proposes to the House to amend the bill as follows:
Second: By striking out Sec. 2 in its entirety and inserting in lieu thereof a new Sec. 2 to read as follows:
Sec. 2. 11 V.S.A. § 3005(a) is amended to read:
The Except for low-profit limited liability companies, the name
of a limited liability company as set forth in its articles of organization
shall contain the words “limited liability company” or “limited company” or the
abbreviation “L.L.C.,” “LLC,” “L.C.,” or “LC.” The word “limited” may be
abbreviated as “Ltd.” and “company” may be abbreviated as “Co.” in a limited
liability company name.
(2) The name of a low-profit limited liability company as defined in subdivision 3001(23) of this chapter shall contain the abbreviation L3C or l3c.
Third: By adding a new section, to be Sec. 4, to read as follows:
Sec. 4. EFFECTIVE DATE
This act shall take effect upon passage.
The Vermont General Assembly
115 State Street