PRIA Logo™
North CarolinaSB 3072025-2026 SessionSenate

AN ACT TO CREATE SPECIAL ECONOMIC INTEREST OWNERS OF LIMITED LIABILITY COMPANIES AND TO GRANT THEM INFORMATION RIGHTS AND STANDING TO SEEK JUDICIAL DISSOLUTION.

Sponsored By: Benton G. Sawrey (Republican)

Signed by Governor

COMMERCECORPORATIONS, FOR-PROFITCOURTSINCORPORATIONPRESENTEDPUBLICRATIFIEDSECRETARY OF STATECHAPTERED

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

2 provisions identified: 1 benefits, 1 costs, 0 mixed.

Estates and nonmembers gain LLC rights

The law creates a “special economic interest owner” for people who own a financial stake in an LLC but are not members. If a member dies or is found legally incompetent, the estate or guardian automatically holds this status. Special economic interest owners can get company information and can ask a court to dissolve the LLC, unless the operating agreement waives that standing or provides another remedy. Starting 12:00 a.m. October 1, 2025, these rights apply to information requests and court cases you file on or after that date. The law also updates terms so “economic interest owner” includes these special owners and “interest owner” includes members, economic interest owners, and special economic interest owners.

Bankrupt LLC members lose control, still owe

If you stop being a member because of bankruptcy, an assignment for creditors, or a receiver or trustee is appointed, you become only an economic interest owner. You keep your share of profits and distributions but lose management, voting, derivative, and most information rights. Even after membership ends, you can still owe money or duties to the LLC under state law. These rules take effect October 1, 2025.

Sponsors & Cosponsors

Sponsor

  • Benton G. Sawrey

    Republican • Senate

Cosponsors

  • Buck Newton

    Republican • Senate

  • Amy S. Galey

    Republican • Senate

Roll Call Votes

All Roll Calls

Yes: 307 • No: 0

Senate vote • 6/26/2025

SB 307: Information Rights of Estate/Death of LLC Member.

Yes: 42 • No: 0 • Other: 8

House vote • 6/25/2025

SB 307: Information Rights of Estate/Death of Limited Liability Company Member.

Yes: 110 • No: 0 • Other: 5

House vote • 6/25/2025

SB 307: Information Rights of Estate/Death of Limited Liability Company Member.

Yes: 110 • No: 0 • Other: 5

Senate vote • 4/3/2025

SB 307: Info. Rights of Estate/Death of LLC Member.

Yes: 45 • No: 0 • Other: 4

Actions Timeline

  1. Ch. SL 2025-55

    7/3/2025Senate

  2. Signed by Gov. 7/3/2025

    7/3/2025Senate

  3. Pres. To Gov. 6/30/2025

    6/30/2025Senate

  4. Ratified

    6/30/2025Senate

  5. Ordered Enrolled

    6/26/2025Senate

  6. Concurred In H Amend S307v2

    6/26/2025Senate

  7. Placed on Today's Calendar

    6/26/2025Senate

  8. Withdrawn From Com

    6/26/2025Senate

  9. Ref To Com On Rules and Operations of the Senate

    6/25/2025Senate

  10. Special Message Received For Concurrence in H Amend

    6/25/2025Senate

  11. Special Message Sent To Senate

    6/25/2025House

  12. Passed 3rd Reading

    6/25/2025House

  13. Passed 2nd Reading

    6/25/2025House

  14. Amend Adopted A1

    6/25/2025House

  15. Placed On Cal For 06/25/2025

    6/24/2025House

  16. Cal Pursuant Rule 36(b)

    6/24/2025House

  17. Reptd Fav

    6/24/2025House

  18. Re-ref Com On Rules, Calendar, and Operations of the House

    6/24/2025House

  19. Reptd Fav

    6/24/2025House

  20. Re-ref to the Com on Judiciary 1, if favorable, Rules, Calendar, and Operations of the House

    6/5/2025House

  21. Withdrawn From Com

    6/5/2025House

  22. Ref To Com On Rules, Calendar, and Operations of the House

    4/8/2025House

  23. Passed 1st Reading

    4/8/2025House

  24. Regular Message Received From Senate

    4/7/2025House

  25. Regular Message Sent To House

    4/7/2025Senate

Bill Text

Related Bills

Back to State Legislation