- Delectus Personae
State Law & State Taxation Corner - Interest Assignments Among Members
The rule of in delectus personae is well rooted in the law of LLCs; no person can by acquisition of an interest in the ...
Dissociation of a Member from a Louisiana Limited Liability Company: The Need for Reform
Bankruptcy of a Member. A. Policy Considerations. B. Case Law Concerning the Bankruptcy of an LLC Member. C. Fifth Circuit Precedent. II. Expulsion; sale of a Member's Entire Economic Interest. III. Voluntary Withdrawal. IV. Death, Interdiction, Dissolution, or Termination of a Member. A. The Problem Under the Louisiana LLC Law. B. Section 12:1333 and Estate Planners. V. Conclusion.
...24 . . The basic theory underlying the dissociation statutes is the principle of delectus personae , that partners have the right to choose their associates. 25 The principle is especially ...
22 F.2d 657 (8th Cir. 1927), 7803, Gilbert v. Fontaine
...The distinctive features of mining partnerships are: (1) The absence of the delectus personae, which characterizes ordinary partnerships. (2) Neither death nor bankruptcy of one of the ...
17 F. 568 (D.Or. 1883), Spare v. Home Mut. Ins. Co.
... the parties was changed from insurer and insured to that of debtor and creditor, and the delectus personae of the contract was no longer material. Therefore this second stipulation is null and ...
73 F. 372 (W.D.Mo. 1896), Thomas v. Hurst
...Such associations are, in many important respects, sui generis. The delectus personae incident to an ordinary partnership has no place in mining associations. Hence such ...
95 F. 35 (9th Cir. 1899), 507, G.V.B. Min. Co. v. First Nat. Bank
...The delectus personae, incident to an ordinary partnership, has no place in such mining partnerships. This ...
100 F.2d 441 (8th Cir. 1939), 11220, Ocean Acc. & Guarantee Corp. v. Southwestern Bell Tel. Co.
... . may be transferred or assigned like any other debt. After a loss the delectus personae no longer becomes material, and even though the policy prohibits such an assignment, and ...
172 F. 90 (8th Cir. 1909), 2,972, Loy v. Alston
...The delectus personae which is an essential element of an ordinary partnership is not an indispensable attribute ...
284 F. 386 (6th Cir. 1922), 3601, Thomas-Bonner Co. v. Hooven, Owens & Rentschler Co.
...382, 388 ('an office involving fiduciary duties, or an agency in which the delectus personae is the essence of the relation, is not the subject of a sale or an assignment'); Walker ...
157 F. 514 (8th Cir. 1907), 2,553, Maryland Cas. Co. of Baltimore, Md., v. Omaha Elec. Light & Power Co.
...After a loss the delectus personae no longer becomes material, and even though the policy prohibits such an assignment, and ...
The ABC's of LLCs.
...Full juristic personality (the LLC can sue or be sued); . 4. The partnership concept of "delectus personae" (permitting a member of an association to control admission of new members to the ...
21 F.2d 602 (8th Cir. 1927), 7761, Thompson v. Crystal Springs Bank
... by the authorities; the principal difference being that in a mining partnership the delectus personae does not exist. In the leading case of Skillman v. Lachman, 23 Cal. ...
114 F. 863 (2nd Cir. 1902), 116, Colton v. Raymond
...An office involving fiduciary duties, or an agency in which the delectus personae is the essence of the relation, is not the subject of a sale or an assignment. Devlin v. ...
68 J. Kan. Bar Assn. October, 16 (1999). THE KANSAS REVISED UNIFORM PARTNERSHIP ACT.
...[FN213] Finally, the long-standing. principle of delectus personae - that a new partner can be. admitted only with the consent of all existing partners ...