Limited Liability Company Abolition Act of 2014 (Failed)

[bore]

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Sponsor: TNF

[Cranberry]

I'm obviously complete blank on the issue of Atlasian/American company charters, but in Austria, companies similar to what would constitute an LLC in Atlasia/America is often used by very small firms, one person companies, like your local barber or the local restaurant; and I suppose those are not the people we should "punish"?

[Simfan34]

This is a terrible idea.

[Southern Senator North Carolina Yankee]

Really? Really?


This will cause tremendous problems for all my shaddy hold.... er the Atlasian economy. Indeed, most of the companies that utilize this do so to avoid risk, we should not be increasing the legal exposure of such firms in such a broad manner. If there is some specific area of neglect then that would be dealt with within that issue set (environment, labor whatever). Anyway, I am not seeing any good reason for this.

[TNF]

So what's the problem with making individuals directly accountable for the destruction they may cause or the harm they might inflict through their firms? I don't see anything particularly unreasonable about holding to account those who might injure or impair others.

[Cranberry]

So is a LLC not that if your firm gets bankrupt, you don't have to pay for everything with your private money? (Sorry for the bad wording, I hope you understand what I want to say...)

[Southern Senator North Carolina Yankee]

So is a LLC not that if your firm gets bankrupt, you don't have to pay for everything with your private money? (Sorry for the bad wording, I hope you understand what I want to say...)

It also extends to legal liability, which is what TNF is gunning to remove here.

[Cranberry]

So is a LLC not that if your firm gets bankrupt, you don't have to pay for everything with your private money? (Sorry for the bad wording, I hope you understand what I want to say...)

It also extends to legal liability, which is what TNF is gunning to remove here.

Ah okay, in that point the US and Austria seem to differ... If you do something wrong, well, then you should be the one to take the consequences fully; I though that would be common sense?

I guess I could support that bill if it exempts smaller, locally-based or even just one-person firms, like idk, the local restaurant or the local haircutter... Helping "Main-Street Atlasia" in a way. I do fully support that bigger firms have to stand for what they did, I guess that is common sense, but it might be helpful for our economy if we gave smaller, locally-based firms a starting help, which a LLC often can be (at least in Austria). Maybe a provision that would mandate LLCs to jump to another charter once they reach a certain size, or a certain volume?

[TNF]

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[bore]

Senators have 36 hours to object to TNF's amendment

[Senator Cris]

This is a bad idea and I won't support it.

[Maxwell]

Oh come on...

[Cranberry]

I guess I must clarify my earlier statement, this amendment would not go as far as I could see myself supporting this bill. I dissaprove of the notion to abolish LLCs in general, I would however have a lesser problem with making it harder for bigger companies to register as a LLC. I am sorry if my bad wording due to sheer incompetence with the handling of the English language delivered that I hold a different point of view.

[Fmr President & Senator Polnut]

I don't see how I could support this Bill.

[windjammer]

I won't support the collapse of capitalism.

[Fmr. Pres. Duke]

TNF, you'll need to also eliminate corporations and limited partnerships because they too shield board members from liability.

[TNF]

TNF, you'll need to also eliminate corporations and limited partnerships because they too shield board members from liability.

Soon

[Senator Cris]

Motion for a final vote.

[Lief 🗽]

I understand where the Senator is coming from with this bill, but I fear that it would be too disruptive to our national economy.

[windjammer]

Motion for a final vote.

[TNF]

I understand where the Senator is coming from with this bill, but I fear that it would be too disruptive to our national economy.

Less disruptive than allowing polluters to pollute without recourse to legal action, my friend.

[Southern Senator North Carolina Yankee]

They do have legal action against the company and there are laws regulating the activities of individuals already with regards to companies (Financial regulations are a big example). So there is a way to go after them on the environment or to change a law to allow for such, without having to abolish LLCs.

[HagridOfTheDeep]

Well, I think it's a poor idea. Plus, you'd think that if we were going to discuss something so drastic there'd be some kind of cataclysmic event that precipitated it... but I guess this is the new Atlasia.

[Fmr President & Senator Polnut]

I agree, there's nothing to latch onto here. Please, let's move to a final vote.

[Southern Senator North Carolina Yankee]

Well, I think it's a poor idea. Plus, you'd think that if we were going to discuss something so drastic there'd be some kind of cataclysmic event that precipitated it... but I guess this is the new Atlasia.

Glad to see you have been paying attention since August of 2013.