Judiciary Committee reviews omnibus LLC revisions in HB 2371 amid debate over series LLCs and Delaware model

The Committee on Judiciary opened a hearing on House Bill 2,371, an omnibus bill that would amend the Kansas Revised Limited Liability Company Act and related statutes, receiving a bill brief from the reviser's office and proponent, neutral and technical testimony.

Jason Thompson, reviser, Statute's Office, summarized the scope: “House Bill 2,371 amends parts of 3 acts in current law,” identifying changes to the Kansas Revised Limited Liability Company Act, the Business Entity Transactions Act and the Business Entity Standard Treatment Act. He pointed members to the bill brief for section-by-section detail and highlighted that section 16 addresses the series LLC provision (KSA 17‑76‑143) and sections 20–23 address statutory public benefit LLCs.

Proponents from the Kansas Bar Association study committee said the bill is an omnibus modernization. “We represent a study committee of the Kansas Bar Association that has reviewed the Kansas Revised Limited Liability Company Act,” testified William (Bill) Quicke of the Polsinelli law firm, who said the committee drew on practitioners, academics, banking representatives and the secretary of…