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24 Jul 2017, 3:41 am by Peter Mahler
But wait, you say, didn’t the LLC supersede the partnership and, if so, how can the LLC’s duration be governed by the termination date in the partnership agreement? [read post]
20 Jan 2023, 10:43 am by Matthew Meiners
  Buy-sell provisions describe the events and procedures for when members are permitted or required to buy or sell membership interests from each other, and they allow the LLC and its members to plan for certain situations, such as a member’s bankruptcy, death, disability, divorce, or termination of employment, and for members that are entities, change of control and dissolution. [read post]
21 Oct 2009, 8:07 pm by Jeff Rogyom
As stated above, while an LLC is normally taxed as a partnership, an LLC may choose to be taxed as an s-corporation or as a c-corporation. [read post]
22 Apr 2022, 4:38 pm
 Facts: Ebaugh was a former employee of Hardwire LLC, who was terminated in February, 2013 and formed a competitive business, Infrastructure Armour, LLC, allegedly using Hardwire’s trade secrets and confidential information to obtain a multi-million-dollar bridge contract from Freyssinet International. [read post]
13 Nov 2023, 4:07 am by Peter Mahler
The petitioner alleged that because the LLC had no written operating agreement as required by LLC Law Section 417(a), the entity did not attain LLC status and therefore had to be treated as a partnership. [read post]
25 Oct 2022, 1:20 pm by Tim Robinson
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]
13 Mar 2015, 2:38 pm by Sutherland LNG
Annova LNG Brownsville C, LLC and certain affiliates (Annova LNG) have filed a request with FERC to initiate pre-filing environmental review procedures for a proposed 6 million tonnes per year gas liquefaction facility and LNG export terminal in the Port of Brownsville, Texas. [read post]
26 Feb 2018, 3:49 am by Peter Mahler
For those unfamiliar with the case, in Shapiro the lower and appellate courts construed LLC Law § 402 (c) (3) (“Voting Rights of Members”) as permitting holders of a majority interest in the LLC to adopt an initial, binding operating agreement long after the LLC was formed and commenced business, without the consent of the minority member. [read post]
27 Dec 2022, 4:24 am by Peter J. Sluka
  The retirement, expulsion, death, bankruptcy or insanity of a Member;            c. [read post]
31 Mar 2011, 10:43 am by Joe Wallin
 And I usually advise startups to form as either a C corporation or an S corporation for the following reasons: If you plan to grant stock options to employees or contractors, it is much easier to do this through a corporation than an LLC taxed as a partnership. [read post]
18 Jan 2021, 2:11 am by Peter Mahler
First, it dismissed Farro’s claim that the merger effectuated by written consent of the majority members in lieu of a meeting on 20-days notice to all members, was invalid under LLC Law § 1002 (c). [read post]
22 Apr 2013, 8:05 am by Asher Bearman
  Founders may want to have the tax benefits of LLCs, which are not subject to a company-level tax (as is the case with C corporations) and may enable more tax deductions. [read post]
5 Jul 2010, 4:00 am by Peter A. Mahler
  Buckley and Levano acknowledged giving a copy of their complaint to GE and informing the Hooters franchisor of their termination and the filing of their complaint. [read post]