Original sentence: As of August 2009, an L3C can only be formed in the states of Michigan ,Vermont, Wyoming, Utah, North Dakota and the Crow Indian Nation.In August 2009, Gov.L3Cs are low-profit limited liability corporations (LLC), which function via a business modality that is a hybrid legal structure combining the financial advantages of the limited liability company, an LLC, with the social advantages of a non-profit entity.Pat Quinn signed Illinois' L3C bill and the law will take effect on January 1, 2010
Edited sentence: As of August 2009, an L3C can only be formed in the states of Michigan ,Vermont, Wyoming, Utah, Maine, the Crow Indian Nation and the Oglala Sioux Tribe.On August 4, 2009, Gov.Pat Quinn signed Illinois' L3C Bill SBO239 and the law will take effect on January 1, 2010.The L3C is a low-profit limited liability company (LLC), that functions via a business modality that is a hybrid legal structure combining the financial advantages of the limited liability company, an LLC, with the social advantages of a non-profit entity