Nearly one-half of the states have enacted legislation creating a unique organizational concept, the Limited Liability Company or LLC. The first statute was enacted in Wyoming in 1977 but most of the enactments have occurred since 1988. Although the statutes bear certain similarities, there has yet to be developed a uniform or model limited liability company act.
Harl, Neil E.
"Limited Liability Companies (First of Three Parts),"
Agricultural Law Digest: Vol. 4
, Article 1.
Available at: http://lib.dr.iastate.edu/aglawdigest/vol4/iss12/1