College of Law

Heminway published in January issue of Business Law Today

Posted January 27, 2016

Heminway, JoanJoan Heminway, W.P. Toms Distinguished Professor of Law, recently was featured in the January issue of Business Law Today. Heminway’s article, “The Death of an LLC: What’s Trending in LLC Dissolution Law,” presents and illustrates two key trends in LLC dissolution law: corporate law rules and freedom of contract principles.

“General continuing trends in LLC dissolution law worth watching include the incorporation of corporate law norms and the fostering (or cabining) of the freedom of contract foundation of the LLC form. It may be that LLC dissolution rules continue to be path-dependent as individual states refine their policy orientations,” says Heminway. “It also may be, however, that as state-based experiments in LLC dissolution law succeed or fail in meeting the overall objectives of the LLC form of business association, dissolution rules will converge more narrowly around specific LLC law ‘best practices.'”