Salt Lake City — The Business Law Section of the Utah Bar Association has honored attorney Russell K. Smith as the 2012-2013 Distinguished Business Law Practitioner of the Year.
Smith, a shareholder with Durham Jones & Pinegar (D|J|P) who chairs the Firm’s Business & Finance Section, was honored for his contributions to the legal profession in Utah. The award was given in part for his service as the former chair of the Business Law Section of the Utah Bar Association, and more recently as for his efforts over the past four years helping to draft and pass the new Utah Limited Liability Company (LLC) statute that was signed into law by Governor Gary Herbert on April 1.
According to Smith, Utah’s previous LLC law had not been modified for many years and had not been amended to reflect subsequent judicial decisions and other legal and business developments. Smith said he and other attorneys at the firm recognized an opportunity to enhance the LLC law to make it more current and business friendly.
“I’m honored to be recognized, but more than anything I’m excited about the opportunities that this new law gives to businesses in Utah,” Smith said. “The new law gives businesses flexibility and protection that wasn’t available before. It’s rewarding as an attorney to help business owners realize better results with this new law.”
In addition to chairing the D|J|P Business and Finance Section, Smith represents clients in a range of industries and sectors, including venture capital, life sciences, software, internet, real estate, manufacturing, retail, telecommunications and energy (including oil and gas). He is a 1992 graduate (cum laude) of the J. Reuben Clark Law School at BYU and holds a Bachelor of Science degree (cum laude) in Business Finance from BYU. Before joining D|J|P in 2004, Smith worked an international law firm in the firm’s Silicon Valley and San Diego offices.
Smith and others from the firm will be presenting the main changes of the bill in a complimentary lunch seminar for business owners on Thursday, May 30, from 12:30 p.m. to 1:30 p.m. at the offices of Durham Jones & Pinegar, 111 E. Broadway, Ste 900. To register for the event, please go to www.djplaw.com/llcseminar.
The new LLC statute was introduced as Senate Bill 21 during this year’s Utah’s legislative session. It was sponsored by State Senators Lyle Hillyard (R) from the 25th senate district in Cache and Rich Counties, and V. Lowry Snow (R) from the 74th District from St. George.