Mississippi Adds LLLPs

By Michael Banner - Mar 17, 2015          

Okay, this may not be something to write home about, but the MS SOS informed us that the Mississippi Uniform Limited Partnership Act will update and modernize limited partnership law in Mississippi.

Updates include providing a clearer protection for limited partners, perpetual duration for limited partnerships, expanded purposes for limited partnerships (allowing for asset protection and estate planning type measures), and the formation of Limited Liability Limited Partnerships or LLLPs. We'll at least we can agree you won't be saying all that ten-times fast.

SB2310 passed the Senate and the House and is headed over to the Governor's pen where it is expected to be signed into law.

Tags: Mississippi  LLLP  
About Michael Banner
  CEO & Founder of SmallBiZ.com, created over seventeen years ago to help small business owners simplify the process of starting & managing their small businesses. SmallBiZ.com now serves over 10,000 businesses per year with various filing and subscription services; in addition to the 1000's of daily visitors to www.smallbiz.com, accessing free services, help pages, & educational videos & webinars.


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