NC S307

Creates a new classification called "special economic interest owner" in North Carolina's Limited Liability Company Act, defined as a person who owns an economic interest with rights to information and to seek dissolution but is not a member.

When an LLC member dies or is adjudicated incompetent, the person's estate or court-appointed guardian automatically becomes a special economic interest owner rather than a standard economic interest owner.

Special economic interest owners receive three specific rights: the economic interest from the former member's ownership, information rights to inspect books and records, and standing to seek judicial dissolution of the LLC.

The standing to seek judicial dissolution may be waived if expressly stated in the LLC's operating agreement.

Effective October 1, 2025, applying to information requests and dissolution actions commenced on or after that date.