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21 Jun 2010, 8:19 pm
Why aren’t fiduciary duties applied as a matter of law in LLCs like they are in other business organizations? [read post]
8 Aug 2019, 10:03 am
Plaintiff filed suit against the defendant related to an employment claim under the Fair Labor Standards Act. [read post]
4 Mar 2013, 3:30 am
Under the old and new New Jersey LLC Act, a court may dissociate a member who engages in “wrongful conduct” that “adversely and materially” affects the LLC’s business or “willfully or persistently committed a material breach of the operating agreement. [read post]
20 Feb 2014, 11:50 am
In addition to new employment laws, there, there have been other new laws that affect businesses in 2014, such as the all new California limited liability company act. [read post]
13 Feb 2024, 8:44 am
This includes corporations, LLCs, and most limited liability partnerships. [read post]
26 Jun 2013, 7:57 am
The statute, however, doesn’t address managers of LLCs or managers of any other limited liability entity, which, the court reasoned, made sense as the LLC did not exist as a form of business entity in 1932 when liability on officers or agents of a corporation was imposed. [read post]
26 Oct 2020, 3:40 am
Unlike states that have enacted the Uniform Revised LLC Act with its provisions for judicial expulsion of an LLC member, New York’s LLC Law contains no such provision. [read post]
6 Feb 2019, 9:19 am
Tom Rutledge at Kentucky Business Entity Law Blog writes: As a general proposition, LLC operating agreements may change the default rules provided for in the LLC Act. [read post]
9 Sep 2012, 12:41 pm
Do I need an LLC or corporation for my new business or is it safe to operate as a sole proprietor? [read post]
26 Apr 2021, 3:19 am
Jacobowitz and Jacobson as managers certain information about the LLC’s business affairs. [read post]
18 Jan 2021, 2:11 am
In that case, the court construed the Revised Limited Partnership Act’s dissenting-partner provision, which essentially is identical to LLC Law § 1005 (g), as precluding a cashed-out limited partner from challenging a merger on grounds of fraud or other illegality. [read post]
20 Sep 2023, 9:03 am
The court emphasized that majority shareholders must act fairly and reasonably toward minority shareholders and avoid oppressive conduct. [read post]
1 Sep 2010, 6:09 pm
Krohn Racing, LLC, which refused after trial to dissolve an LLC under Delaware §18-802. [read post]
23 Aug 2023, 12:19 pm
The Corporate Transparency Act (CTA) is a federal law that requires business entities, like LLCs and corporations, to report information about their owners to the Financial Crimes Enforcement Network (FinCEN). [read post]
17 Aug 2012, 12:01 pm
Source: Business Wire [read post]
1 Apr 2012, 2:17 pm
The Court also discussed Section 18-109 of the LLC Act which is an implied consent statute that empowers the Court to exercise personal jurisdiction over persons who serve as managers of an LLC for purposes of adjudicating claims for breaches of duty in that capacity-involving and relating to the business of the LLC. [read post]
24 Sep 2019, 4:29 am
Finally, the Revised Uniform Partnership Act prohibits blurring the lines between partnerships and other entities. [read post]
26 Oct 2015, 3:26 am
From the article’s conclusion: Although one could read Carlisle as a rejection of the LLC Act’s policy to give maximum effect to the freedom to contract, the authors of this article respectfully suggest that would be the wrong takeaway. [read post]
5 Dec 2016, 3:20 am
The petition further contended that the members were at “irreversible odds and cannot carry out the business functions of the LLC. [read post]
28 Aug 2023, 4:59 am
Do Surrogate’s Courts have the power to compel an accounting of an LLC where the party seeking an accounting is not a current member of the LLC? [read post]
