Posted by Post Authored by Christian Blume, Illinois Business & Real Estate Attorney
Illinois recently amended the Limited Liability Company Act (805 ILCS 180) through Senate Bill 1495. Part of the bill overruled interpretations of specific portions of the LLC Act in Dass v. Yale, 2013 IL App (1st) 122520. Specifically, these interpretations concerned Section 10-10, relating to members’ and managers’ liability.
A link to the full post can be found here: https://sagaciouslawyer.com/2019/11/19/update-to-limited-liability-company-act-members-and-managers-may-be-liable-for-own-wrongful-acts-or-omissions-even-while-acting-within-their-role-for-the-llc/
About the Author:
Christian is the Co-Chair of the CBA Young Lawyers Section’s Real Estate Committee. He is a trusted legal advisor that helps businesses and individuals protect and pursue their interests. His practice focuses on real estate and business law (particularly, transactional and dispute resolution).
Prior to establishing his private practice, Christian worked as an Assistant Corporation Counsel for the City of Chicago Department of Law. He represented the City of Chicago and prosecuted municipal code violations in numerous cases.
He graduated cum laude from The John Marshall Law School and served as the Managing Editor of The John Marshall Law Review. He also graduated from the United States Air Force Academy, where he majored in Economics. Prior to law school, Christian owned and operated a small business. As a small business owner, he came to appreciate the many legal struggles and issues start-ups and small businesses face.
He currently lives in Lincoln Square with his wife and two small children. Christian enjoys travelling, yoga, reading and spending time with his family in his spare time.