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11 Jul 2012, 2:00 am
Code Ann., tit. 6, § 18-1101(b). [read post]
21 Nov 2016, 4:19 am
Felfel Corp. d/b/a Filfel Mediterranean Fast Food Restaurant, No. 16 C 7586, Slip Op. [read post]
22 Apr 2024, 1:35 am
Taxation status: While an LLC can elect pass-through, C corp, or S corp taxation status, an LLP can only elect pass-through or C corp taxation status. [read post]
28 Aug 2017, 7:31 am
Specifically: Revised Code Section 1705.081(D), Effect of Operating Agreement, states that “it is the policy of this chapter [1705], subject to the limitations of (B) and (C) of this section, to give maximum effect to the principle of freedom on contract and to the enforceability of operating agreements. . . [read post]
28 Aug 2017, 7:31 am
Specifically: Revised Code Section 1705.081(D), Effect of Operating Agreement, states that “it is the policy of this chapter [1705], subject to the limitations of (B) and (C) of this section, to give maximum effect to the principle of freedom on contract and to the enforceability of operating agreements. . . [read post]
28 Apr 2017, 4:53 am
C. [read post]
9 Nov 2020, 3:31 am
First, they breached the Operating Agreement when they attempted to install a CEO without board approval as their right to designate a CEO in Section 7.10(b) is subject to the other provisions of the Operating Agreement (including, Section 7.10(a) which indicates that officers must be approved by the Board). [read post]
11 Aug 2014, 3:32 am
The amended default rule is codified in Section 701(b) of New York’s LLC Law. [read post]
18 Apr 2014, 10:42 am
Further, it is alleged that Matthew McMahan is a member of The Irish Exit, LLC, with responsibility for the operation, management and supervision of the activities of LLC and the business establishment. [read post]
26 Aug 2019, 3:44 am
It’s a question that frequently arises in business divorce cases involving LLCs that have no written operating agreement much less certificated membership interests. [read post]
16 Nov 2013, 4:44 pm
Finally, remember to insert exculpation and indemnification provisions in the LLC operating agreement. [read post]
14 Aug 2009, 4:20 am
Leila Sophia AR, LLC d/b/a Lettuce Mix, No. 09 C 2582, Slip Op. [read post]
26 Mar 2010, 1:04 pm
In response, the LLC moved to dismiss the petition for dissolution on a 12(b)(6) motion for failure to state a claim. [read post]
25 Oct 2022, 1:20 pm
Art. 2826. [4] The LLC Law defines a “limited liability company” as “an unincorporated association having one or more members” (LSA-R.S. 12:1301(10) (emphasis added), there is no statute providing for express automatic termination of an LLC with no members. [5] LSA-C.C. 12:1333.1(A). [6] LSA-R.S. 12:1333.1(B). [7] LSA-R.S. 12:1333.1(C). [read post]
23 Nov 2015, 3:21 am
Notwithstanding that section 508(a) prohibits an LLC from making distributions that render the LLC insolvent, and section 508(b) imposes liability on a member for the amount of any such distribution knowingly received, section 508(c) has been construed broadly to cover not just insolvency claims but also “wrongful distributions” made in violation of the LLC’s operating agreement or that… [read post]
5 Mar 2012, 6:34 am
C. [read post]
17 Jul 2008, 4:56 pm
For example, assume that company A owns a piece of property worth $300,000.00 (Building A) and Company B owns property worth $1,000,000.00 (Building B) and both Company A and B are owned by Company C (the parent company). [read post]
19 Mar 2020, 10:35 am
B. [read post]
26 Apr 2019, 3:15 am
., LLC, No. 17 C 6574, Slip Op. [read post]
28 Aug 2014, 1:02 pm
Generally, a domestic LLC exempt under Section 501(c)(3) of the Internal Revenue Code will be eligible to receive (a) deductible charitable contributions and (b) private foundation grants without the need for expenditure responsibility. [read post]
