Recent Amendments to the Maryland LLC Act –What Happens After the Last Member Dies?
A problem that occurs not too infrequently in the realm of businesses owned by individuals organized as limited liability companies (LLCs) is how to deal with the death or incompetency of the last remaining member. This is particularly true in the case of single-member LLCs. Under the Maryland LLC Act, Section 4A-902(a)(4) and (b), an […]