Info. Rights of Estate/Death of LLC Member.

Added new definitions for 'economic interest owner' and 'special economic interest owner' to clarify the legal status of non-member LLC owners.

Established that estates of deceased or incapacitated members automatically become 'special economic interest owners' with specific rights.

Granted special economic interest owners the right to receive information from the LLC and the standing to seek judicial dissolution under G.S. 57D-6-02(2).

Modified cessation of membership rules to ensure estates and other economic interest owners retain liability for member obligations while gaining new rights.

Set the effective date of the act as October 1, 2025, with provisions applying to requests and actions on or after that date.

The amendment rewrites the section defining the rights of special economic interest owners to explicitly list economic interests, information rights, and standing to seek judicial dissolution as entitlements.

Added language clarifying that entitlement to standing for judicial dissolution can be expressly waived in the operating agreement.

The document format changed from a filed Senate version to an adopted amendment version with updated header information and amendment tracking details.

Removed redundant 'person person' and 'member or member' and 'owner.owner' typos in the definitions section.

Changed 'entitled only' to 'entitled to all of the following' in subsection (c) for clarity and consistency.

Added a new sentence to subsection (c) clarifying that standing to seek judicial dissolution can be expressly waived in the operating agreement.

Removed extraneous text fragments like 'interest.' at the end of subsection (b) and 'Second Edition' replaced with 'Ratified' in the header.

Revised the definition of when a person ceases to be a member to improve clarity and consistency in language.

Clarified that estates of deceased or incapacitated members automatically become special economic interest owners with specific rights to information and dissolution standing.

Updated formatting and versioning information to reflect the Judiciary Committee substitute adoption on 4/1/25.

Removed sponsor and referral information that was present in the original version but not included in the committee substitute.