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16 Feb 2011, 9:17 am
On application by a member or transferee, the entry by a district court of an order dissolving the company on the grounds that the managers or those members in control of the company have done any of the following: (1) Have acted, are acting, or will act in a manner that is illegal or fraudulent. (2) Have acted or are acting in a manner that is oppressive and was, is, or will be directly harmful to the applicant. 2. [read post]
1 Jan 2018, 6:06 pm
Senate Enrolled Act 443 creates, effective as of January 1, 2018, a new Article 0.5 in Title 23 of the Indiana Code, the Uniform Business Organizations Code, that includes a number of provisions that apply to Indiana business corporations (including professional corporations and benefit corporations, but excluding insurance companies), limited liability companies (LLCs, including series LLCs), limited partnerships (LPs), limited liability partnerships… [read post]
27 Jul 2023, 6:24 pm
Acquisitions, LLC v. [read post]
12 Jun 2024, 10:49 am
CyberKnife Ctr. of Treasure Coast, LLC, 204 So. 3d 469 (Fla. 4th DCA 2016). [read post]
15 Jul 2013, 10:51 am
As such, the act of any member for the apparent purpose of carrying out the usual business or affairs of the LLC binds the LLC unless (i) the member so acting in fact has no authority to act, and (ii) the person with whom the member is dealing has actual knowledge of this fact. [read post]
15 Jul 2013, 10:51 am
As such, the act of any member for the apparent purpose of carrying out the usual business or affairs of the LLC binds the LLC unless (i) the member so acting in fact has no authority to act, and (ii) the person with whom the member is dealing has actual knowledge of this fact. [read post]
15 Jul 2013, 10:51 am
As such, the act of any member for the apparent purpose of carrying out the usual business or affairs of the LLC binds the LLC unless (i) the member so acting in fact has no authority to act, and (ii) the person with whom the member is dealing has actual knowledge of this fact. [read post]
28 Jul 2007, 6:27 am
Two spouses start a business and even without a formal agreement, a partnership can be created by their acts. [read post]
30 Mar 2020, 2:16 pm
In today’s update, we focus on the (likely significant) relief the Act may afford to our small business clients by opening up, and possibly forgiving repayments of, loans under Section 7(a) of the Small Business Act. [read post]
5 Apr 2023, 11:57 am
If you would like more information regarding LLCs and Business Planning, please contact KJK Estate Planning Partner Susan L. [read post]
10 May 2024, 7:16 am
Secondly, under the Illinois Business Corporations Act (805 ILCS 5/12.50), a minority shareholder may sue a corporation directly for its dissolution if they can establish that the majority shareholders have acted in a way that is illegal, oppressive, or fraudulent. [read post]
4 Sep 2012, 5:00 am
In contrast, the defendants asserted that the LLC’s operating agreement contained provisions allowing members to vote on company business through written consent. [read post]
25 Jan 2011, 4:15 pm
Employers such as Gee West, who are "trying to keep a business afloat and whose futures are uncertain," may find safe harbor under the WARN Act's "faltering business" exception. [read post]
26 Oct 2018, 8:06 am
With the Florida Limited Liability Company Act of 1999 and the passage of certain taxation legislation, LLCs are a very favorable business organization form for small and mid-sized businesses. [read post]
26 Oct 2018, 8:06 am
With the Florida Limited Liability Company Act of 1999 and the passage of certain taxation legislation, LLCs are a very favorable business organization form for small and mid-sized businesses. [read post]
10 Mar 2017, 4:29 pm
La Cumbre’s operating agreement stated that MIC, its sole manager, would have full and exclusive authority to manage and control the business of the company and to perform all acts incident to the management of the company’s business. [read post]
10 Mar 2017, 4:29 pm
La Cumbre’s operating agreement stated that MIC, its sole manager, would have full and exclusive authority to manage and control the business of the company and to perform all acts incident to the management of the company’s business. [read post]
22 Mar 2021, 4:17 am
The complaint included civil RICO claims alleging wire, mail, and bank fraud as predicate acts as part of a racketeering enterprise for the purpose of injuring plaintiff including loss of the LLC as an ongoing business, lost of investment, loss of personal credit, and reputational injury. [read post]
30 Mar 2022, 6:00 am
Here, the Court of Chancery dismissed LLC members’ complaint because, among other reasons, the Operating Agreement (i) replaced default common law fiduciary duties with a contractual standard that limited director liability to claims in which directors did not rely on the terms of the Operating Agreement in good faith; and (ii) it further provided that the directors were not liable for money damages unless they failed to act in good faith, engaged in intentional misconduct or… [read post]
25 Mar 2024, 3:25 am
Business Doing Fine? [read post]
