I have had several questions regarding the effective date of the LLC statute found in Fla. Stat. chapter 605 as mentioned in the firm’s blog “Changes in the Florida LLC Law” posted on September 22, 2014.

The “new” LLC statute became effective on January 1, 2014, and will apply to all LLCs formed in the State of Florida on or after January 1, 2014.  Thus, any LLC’s created in 2014 are governed by the new statute, but existing LLC’s are not (yet) subject to the new statute.

Existing LLC’s formed prior to January 1, 2014 remain subject to Fla. Stat. chapter 608, i.e. is the “old” LLC statute.  The old statute will be repealed, and as of January 1, 2015, Chapter 608 will be the controlling statute law for all LLC’s effective on that date and thereafter.

During 2014, which is a “transition year,” an existing LLC may amend its operating agreement to be governed by Fla. Stat. chapter 605 in lieu of chapter 608.

 

Tags: ,