WSBA Business Law

News

  • New LLC Act. During the 2015 session, the Washington Legislature passed a new LLC Act, based on the bill drafted by the Partnership and LLC Law Committee and approved by the Executive Committee of the Business Law Section. The new Act has a delayed effective date of January 1, 2016. The legislation comprehensively revises and updates the existing LLC Act first enacted in 1994. For a summary of the principal changes effected by the new Act, as well as the text of the legislation and a comparison of the existing and new Acts, click here.
  • New Social Purpose Corporation Act. In March 2012, the Governor signed into law a bill creating a new kind of business entity in Washington State: the Social Purpose Corporation. The law amends RCW 23B by creating a new chapter 23B.25. Social purpose corporations are for-profit corporations, but with greater flexibility to balance profitability with advancing a broader social mission. The legislation was proposed by the Corporate Act Revision Committee, with the endorsement of the Business Law Section Executive Committee.
  • Updates on the 2012 Legislative Session (February 2012)
  • Securities Committee sends letter to U.S. Senate Banking Committee opposing proposed changes to Regulation D. In March 2010, the Securities Committee, with the endorsement of the Executive Committee, sent a letter to Senator Dodd and the Senate Banking Committee expressing the Section’s opposition to provisions in the proposed financial reform legislation that would, in the Committee’s view, undermine federal preemption with respect to Rule 506 offerings. The Committee’s letter expressed the concern that such a change would be a significant impediment to the ability of companies in Washington to raise capital.
  • Young Lawyers Event. On March 5, 2009, the Business Law Section hosted a very successful seminar and networking opportunity for young lawyers. The program was organized by Eric Koester and held at the offices of Davis Wright Tremaine. The event, which was limited to 100 attendees, was oversubscribed. A second event, attracting over 110 participants, was held in March 2010 at the offices of Dorsey & Whitney in Seattle. Seminar Materials
  • Outstanding Young Lawyer. The Section's Eric Koester was recognized as the Outstanding Young Lawyer of the Year (2010) by the Young Lawyers Division of the Washington State Bar Association. The WSBA also nominated Eric for the ABA Young Lawyer of the Year award.
  • WAAC0 Contribution - With a $10,000 contribution to WAACO in fiscal 2007 and 2008, the Business Law Section continued its annual financial support begun in 2004 to assist in the operation of this innovative program. Washington Attorneys Assisting Community Organizations (WAACO) is a state-wide organization that matches volunteer attorneys with charitable and community-based non-profit organizations that are in need of business- related legal services. 2008 WAACO Memorandum

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Updated: 12/16/15