Vermont Proposes the new "Low-Profit" Entity
Well, this convinces me I am a legal geek. New, creative, variations on legal entities, especially legal entities that could make doing business easier and less costly, are very interesting to me. Vermont has come up with the newest possibility: The "LC3", a "low-profit limited liability company" that is being created to support businesses with that generate low profits and with a mission largely devoted to social issues. The bill that creates this legal entity is expected to be signed into law by Vermont's governor by the end of this month. Access a copy of the bill here:Vermont LC3.
I will be watching this law and how it develops. I expect to see a lot of commentary upon its becoming law!