S. 5512
Holds private funds liable for firms they control
Certain private funds that buy and control companies would share legal responsibility for those companies' liabilities, so the funds could be held responsible for debts and lawsuits against the firms.
- Applies to certain private funds that acquire and control firms
- Funds would share responsibility for the liabilities of those firms
- The liability is joint and several, so one fund could be held responsible for the whole amount
- The bill also covers related purposes, which the title does not spell out
In committee