Bermuda Introduces LLC Legislation Based on Delaware Statute
The Bermuda Government today tabled limited liability company (“LLC”) legislation closely modeled on the Delaware equivalent. LLCs are a hybrid entity combining corporate and partnership characteristics which originated and are widely used in the United States. While a few non-US jurisdictions have made provision for LLCs in their laws, such laws generally incorporate non-US terms and concepts which may be unfamiliar to US counsel.
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