New LLC regulations are now in place that aim to bar “bad actors” from using a corporate shield for questionable or illegal purposes.
The change came out of legislation backed by the Secretary of State’s Office as news unfolded about Delaware LLCs linked to drug kingpin “El Chapo,” former Trump campaign finance chief Paul Manafort and others.
The state had long maintained that national legislation was needed to deal with the issue. Otherwise, the activity would simply shift to states such as Nevada and South Dakota.
Delaware LLC’s have long been criticized for not requiring more disclosures, with the progressive wing of the Delaware General Assembly demanding more controls. Click on the headline below for the story from WHYY.
