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Business and Securities LawThe newsletter of the ISBA’s Section on Business and Securities Law

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Newsletter articles from 2009

Asset protection skills and techniques: How well do Subchapter S Corporations and LLCs work? By David F. Rolewick April 2009 A good business advisor or estate planning attorney should be discussing liability insurance coverage with her client before the discussion of off-shore trusts and at the beginning of the relationship or the inception of the business. 
A business planning guide to successor liability laws, part 2 By Janette M. Lohman January 2009 The second of a two-part article. Part One appeared in the December 2008 issue of the ISBA’s Corporations, Securities & Business Law newsletter.
Case note: Mickman v. American International Processing, L.L.C. and LFF, L.L.C.Court of Chancery, Delaware Civil Action Case No.: 3869-VCP (April 1, 2009) By David F. Rolewick December 2009 The Operating Agreement of a Delaware L.L.C. is not the conclusive evidence of Membership.
Contradictory changes by P.A. 096-0648 and 096-0649 to Section 107.50 of Not For Profit Corporation Act cause uncertainty By Adam M. Fleming December 2009 On August 24, 2009, Governor Quinn signed Public Acts 96-648 (SB 1285) and 96-649 (SB 1390) into law. P.A. 96-649 is a comprehensive and thoughtful revision to numerous sections of the Illinois General Not For Profit Corporation Act that aspires to streamline the operations of Illinois nonprofits, particularly with respect to electronic voting for officers, directors, or representatives. Its effective date is January 1, 2010.
Hardship distributions from 401(k) plans By Markus May March 2009 A look at when employees are allowed to make hardship withdrawals from their existing 401(k) plans.
Kern v. Arlington Ridge Pathology, S.C.: An unsound decision illustrating a lack of awareness of basic corporate law principles By Jason W. Mosley and Charles W. Murdock April 2009 A recent Illinois Appellate decision, Kern v. Arlington Ridge Pathology, illustrates the necessity for lawyers and judges to have a mastery of corporate law, in general, and the Illinois Business Corporation Act, in particular.
The misunderstood limited liability partnership: A comparison to limited liability companies By Kenneth J. Ashman and Bardia Fard March 2009 A primer on certain similar and dissimilar features of LLPs and LLCs as organized under Illinois statute.
Poison pill rights plan—An introduction By Tracy J. Nugent December 2009 During the period from 1991 through 2008, approximately 3,100 publicly traded companies adopted, amended or restated poison pill rights plans.