Limited Liability Partnerships: Need Only Professionals Apply

Abstract

INTRODUCTION|Over the last several years, the Nebraska Legislature has given Nebraska businesses and legal practitioners a strong dose of alphabet soup when it comes to business entities. First came L.L.C.s (Limited Liability Companies), next came the RMBCA (Revised Model Business Corporation Act), and most recently the RMNCA (Revised Model Nonprofit Corporation Act) and L.L.P.s (Limited Liability Partnerships). For this, we can primarily thank the vision and efforts of Senator Douglas A. Kristensen of Minden who sponsored each of the referenced laws as priority legislative bills. Certainly, these changes have finally moved Nebraska business into the 20th Century...