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9 Dec 2019, 1:05 am
“Disputes between members are not sufficient to warrant the exercise of judicial discretion to dissolve an LLC that is operated in a manner within the contemplation of it[s] purposes and objections as defined in its articles of organization and/or operating agreement” (Kassab v Kasab, 60 Misc 3d 1204[A] [Sup Ct Queens Cnty 2018]). [read post]
3 Aug 2023, 11:17 am
Yes, a Delaware LLC can indeed operate in Texas. [read post]
4 Oct 2022, 9:55 am
In terms of carrying on the activities, the Court’s going to look at the operating agreement and the certificate of formation and try to determine what the purpose of the LLC is and whether or not keeping the person as a member allows the parties to continue to operate in accordance with their operating agreement and to pursue the purpose that they’ve defined for themselves. [read post]
19 Dec 2018, 12:23 pm
” On January 1, 2014, the state legislature enacted a new LLC law in California, and it opened the floodgates for dissatisfied LLC members to sue for anything they think is “manifestly unreasonable” in the LLC Operating Agreement. [read post]
3 Mar 2020, 8:41 am
Each state has its own laws on whether your company’s level of activity is great enough to have to go on record. [read post]
20 Nov 2022, 11:03 pm
Primarily they argued that the operating agreement contradicted the complaint’s allegation that the LLC’s business was limited to the condominium development project in the Dominican Republic, that the LLC never committed to proceed with the project by any particular deadline, and that the “mere fact” that it has taken 15 years to get a permit from the Dominican Republic’s Ministry of the Environment does not necessarily support… [read post]
24 May 2016, 10:24 am
In addition, any California LLC regardless of format is subject to the state’s $800 minimum franchise tax while those have chosen to go the corporate route must comply with the state’s rulings on corporate taxation. [read post]
16 Feb 2012, 5:41 am
As such, the LLC entity is not subject to a tax separate from the member and all income or deductions of the LLC go on the owner's tax return. [read post]
25 Jun 2018, 12:57 pm
Or you can form your Series LLC with a handful of protected series and add more as you go along. [read post]
19 Dec 2020, 6:01 pm
When you’re a member of an LLC who has decided to leave the company, you may often simply want to go your own way. [read post]
8 Aug 2016, 3:25 am
On the one hand, expulsion can be viewed as a necessary measure to preserve the LLC as a going concern when faced with persistent misconduct or failure to perform by one of its members. [read post]
15 Apr 2010, 4:12 pm
And, honestly, this article is just a gross simplification of the thought process I go through with new business clients. [read post]
5 Jul 2022, 5:30 am
It is not permissible for creditors to go after these assets. [read post]
8 Dec 2021, 6:13 am
However, unlike corporations, LLCs are limited in the number and type of investors permitted and in their ability to go public. [read post]
15 Jul 2019, 4:10 am
So what’s going on here? [read post]
31 Mar 2009, 1:45 am
Unfortunately, the existing LLCs will still have the old terms in their operating agreements. [read post]
7 Feb 2023, 12:09 pm
Members may set out these distributions in the LLC Operating Agreement. [read post]
18 Jan 2018, 9:17 am
The records of protected series establishment are all internal under the Series LLC operating agreement. [read post]
26 Apr 2022, 8:14 am
Members own an LLC and it is operated by either third-party managers or the members themselves. [read post]
30 Nov 2013, 7:22 pm
The operating agreement for the LLC interest provided that if an LLC interest is transferred outside of the family, the new owner is a mere assignee that cannot participate in management unless all of the other members vote to admit the new owner as a full member. [read post]
