All Roll Calls
Yes: 307 • No: 0
North CarolinaSB 3072025-2026 SessionSenateWALLET
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
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 0 costs, 1 mixed.
Clearer rights for nonmember LLC owners
Beginning Oct 1, 2025, the law clearly defines key LLC owner terms. Economic interest includes capital, income, losses, credits, and the right to get distributions. An economic interest owner has those financial rights but is not a member; special economic interest owners are included. Ownership interest also covers management/approval rights, the right to sue for the company’s wrongs, and the right to see records and get information. The term “interest owner” now covers members, economic interest owners, and special economic interest owners.
New rights for LLC heirs and guardians
Beginning Oct 1, 2025, if an LLC member dies or is found incompetent, their estate or guardian becomes a special economic interest owner. They keep the financial rights tied to the member’s interest. They get information rights from the LLC. They can ask a court to dissolve the LLC, unless the operating agreement clearly waives that right.
When LLC membership ends and what remains
Beginning Oct 1, 2025, you stop being an LLC member if certain events happen. These include bankruptcy or a receiver, death or being declared incompetent, transferring or abandoning your entire economic interest (not counting liquidation in dissolution), or giving up all non‑financial ownership rights. After bankruptcy or death/incompetency, you or your estate become an economic interest owner and keep only the financial rights. You may still owe certain LLC obligations listed in the statute.
Sponsors & Cosponsors
Sponsor
Benton G. Sawrey
Republican • Senate
Cosponsors
Paul Newton
Republican • Senate
Amy S. Galey
Republican • Senate
Roll Call Votes
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
Ch. SL 2025-55
7/3/2025SenateSigned by Gov. 7/3/2025
7/3/2025SenatePres. To Gov. 6/30/2025
6/30/2025SenateRatified
6/30/2025SenateOrdered Enrolled
6/26/2025SenateConcurred In H Amend S307v2
6/26/2025SenatePlaced on Today's Calendar
6/26/2025SenateWithdrawn From Com
6/26/2025SenateRef To Com On Rules and Operations of the Senate
6/25/2025SenateSpecial Message Received For Concurrence in H Amend
6/25/2025SenateSpecial Message Sent To Senate
6/25/2025HousePassed 3rd Reading
6/25/2025HousePassed 2nd Reading
6/25/2025HouseAmend Adopted A1
6/25/2025HousePlaced On Cal For 06/25/2025
6/24/2025HouseCal Pursuant Rule 36(b)
6/24/2025HouseReptd Fav
6/24/2025HouseRe-ref Com On Rules, Calendar, and Operations of the House
6/24/2025HouseReptd Fav
6/24/2025HouseRe-ref to the Com on Judiciary 1, if favorable, Rules, Calendar, and Operations of the House
6/5/2025HouseWithdrawn From Com
6/5/2025HouseRef To Com On Rules, Calendar, and Operations of the House
4/8/2025HousePassed 1st Reading
4/8/2025HouseRegular Message Received From Senate
4/7/2025HouseRegular Message Sent To House
4/7/2025Senate
Bill Text
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Edition 2
Edition 3
Filed
Latest Edition
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