Monday, December 10, 2012

Raw milk study released in Indiana

Unpasteurized or "raw" milk sales for human consumption are illegal in Indiana, but lately every year a bill shows up in the Indiana General Assembly to legalize raw milk sales. After a legalization bill failed in the 2012 legislative session, Indiana legislators authorized Indiana Board of Animal Health (BOAH) to "conduct a study of the issue of farmers selling unpasteurized milk to consumers."  After a summer of researching and soliciting public comments, BOAH has released its study on the sale of raw milk.

Friday, December 7, 2012

The LLC - The Infinitely Variable Company

Growing up, tractors had gears.  The older the tractor, the fewer the gears.  Throughout my childhood, tractors moved from 4 to 8 to 16 gears.  Now, nearly every manufacturer offers an "infinitely variable" transmission that no longer restricts an operator to using a specific gear.

Corporate law underwent a similar transformation in the early 1990s with the development of the "limited liability company" or "LLC."  Prior to the passage of the Indiana Business Flexibility Act in 1994, the LLC form of legal entity did not exist in Indiana. The same was true elsewhere. In 1989, only two states had enacted LLC statutes.  Businesses that wanted to protect their owners from personal liability had one option--form a corporation.