The New (as of July 1, 2010) Wyoming Close LLC

In 1977, Wyoming was the first state to enact an LLC statute. Now, as of July 1, 2010, Wyoming pioneers a new form of Close LLC precluding creditors from any legal or equitable remedy other than a charging order against the LLC interest, even as to Single Member LLC’s. The charging order is the “exclusive remedy.” Other remedies, including foreclosure and a “court order for directions, accounts and inquiries” are not available and may not be ordered by a court.  Read the full article: Wyoming Close LLC

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