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Lawmakers debate LLC buyout option and regulatory sandboxes to attract biotech and crypto firms
Summary
Representative Plaes introduced three bills: HB 7,339 would allow buyouts of LLC members who petition for dissolution; HB 7,413 and HB 7,337 would create regulatory sandboxes with limited, temporary statutory waivers (explicitly excluding human genetic modification and certain environmental and ethical protections). DBR raised staffing and fiscal concerns during the hearing.
Representative Plaes presented a package of bills aimed at encouraging business formation and innovation.
HB 7,339 would give remaining LLC members the option to buy out a member who seeks dissolution at fair market value — a change Plaes described as aligning Rhode Island with New York and Delaware and reducing the cost and disruption associated with dissolutions.
HB 7,413 (biotechnology) and HB 7,337…
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