People in Baton Rouge who have endured the emotional upheaval of the divorce process often assume that the entry of the court order terminating the marriage will also terminate the stress of the divorce. Even if life becomes calmer for all parties, unforeseeable events can play a role in causing significant post-divorce anxiety. One of the most common events is the relocation of one ex-spouse to another state. Such a move can result in tardy or non-existent support payments, regardless of which spouse moves. The Louisiana Legislature has enacted a law intended to limit the anxiety of such events.
What is a limited liability company in Louisiana?
Louisiana businesses have a variety of organizational forms that can be used, depending on the purpose of the business and its capital structure. Partnerships and corporations were once the principal forms used by most businesses, while certain real estate projects used limited partnerships. The major purpose of all of these entities was to attract capital and limit the risk of investments. Each form was useful, but each also had drawbacks. The corporate form proved too cumbersome, and partnerships could not be organized to limit investor liability. In 1992, the Louisiana legislature followed the lead of other states and passed a statute that allowed formation of limited liability companies.
