Professor Robert Keatinge Posts “LLC’s and Nonprofit Organizations – For-Profits, Non-Profits, and Hybrids”

Professor Robert Keatinge (Suffolk and Holland & Hart LLP) posted “LLCs and Nonprofit Organizations — For-Profits, Non-Profits, and Hybrids”  on SSRN’s Nonprofit and Philanthropy Law Abstracting Journal, an abstract of his working paper on LLC’s and nonprofits.  Here is the abstract:

This article deals with the LLC in the context of nonprofit organizations, both as a legal entity in which a nonprofit organization may be a member and as an organization that may, itself, be organized as a nonprofit organization, or a hybrid organization – one that may be organized for a purpose that is neither exclusively for-profit nor exclusively non-profit. Most legal organizations are created pursuant to a state law, referred to in this article as an “organic statute.” Unlike partnerships and business corporations under the Model Business Corporation Act, LLCs (and – more recently – limited partnerships) do not need to be organized for profit. 

DAB