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| DO YOU HAVE GOOD BUSINESS JUDGMENT? Until recently, the application of the “business judgment rule” to the managers of a North Carolina limited liability companies was essentially based on the application of decades of developed case-law applying the business judgment rule to directors of corporations. This is due to the fact that no prior case-law in North Carolina explicitly applied the business judgment rule to managers of limited liability companies. On November 13, 2009, the North Carolina Business Court solidified this presumption by essentially applying the business judgment rule to managers in a court order in Mooring Capital Fund, LLC v. Comstock North Carolina, LLC, 2009 NCBC 26 (Nov. 13, 2009)[1]. In that order, the Court stated “the managers of an LLC may also be entitled to the protections of the ‘business judgment rule’”. In a long footnote to the text of the order, the Court discussed those sections of the North Carolina Limited Liability Company Act which state:
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| PROCEED WITH CAUTION WHEN MAKING HEALTH-RELATED INQUIRIES By: Frederick M. Thurman
*This article was originally published in the June 2009
issue of the HR Specialist on
North Carolina Employment Law Employers enter a legal minefield when they inquire about the health of applicants or employees. State and federal laws – such as the North Carolina Workers’ Compensation Act (WCA), the ADA and the FMLA – overlap, and any misstep can cause a litigation explosion.
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| RED FLAGS GET A TEMPORARY GREEN LIGHT By: Jack Santaniello
The Federal Trade Commission (FTC), at the request of Congress, is delaying enforcement of the “Red Flags” rule until June 1, 2010. The “Red Flag” rule was promulgated under the Fair and Accurate Credit Transactions Act, in which Congress directed the FTC and other agencies to develop regulations requiring “creditors” and “financial institutions” to address the risk of identity theft. The resulting rule requires all such entities that have “covered accounts” to develop and implement written identity theft prevention programs to help identify, detect and respond to patters, practices, or specific activities – known as “red flags” – that could indicate identity theft. The FTC had previously delayed the enforcement of this rule for entities under its jurisdiction until November 1, 2009.
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| ARE YOU A TARGET? A Short Summary of Several New North Carolina Laws
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