On May 3, 2013, the Florida legislature passed the new Florida Revised Limited Liability Company (“LLC”) Act.  This new LLC act will be effective for every LLC formed in Florida on or after July 1, 2014 and will apply on a mandatory basis to all LLCs, including those formed earlier, as of January 1, 2015.  There are some major changes in the new act that could materially affect existing LLCs and certainly need to be considered for any LLCs set up in the future.  This newsletter will cover the changes the new LLC act brings and our next newsletter will cover parts of Florida LLC law that are not being changed that every LLC owner needs to keep in mind.