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28 Apr 2015, 8:51 am
The debtor signed the operating agreement as a member. [read post]
20 Dec 2022, 4:00 am
Property of the LLC will be automatically converted, but outstanding obligations and liabilities of your LLC that are outside of Texas will not go away. [read post]
16 May 2012, 10:20 am
Rev. 850 (2011): This comment will evaluate the operation of the series LLC in Texas and analyze... [read post]
17 Mar 2012, 5:56 am
Affirming the decision below, the Fifth Circuit held that the individual defendant- who was not involved in the day-to-day operations of the defendant nightclub as a member of the LLC that owned same- lacked sufficient involvement to be an "employer. [read post]
22 Oct 2018, 3:17 am
Consider the following hypothetical: The operating agreement of an LLC vests management authority in its two members. [read post]
9 Jul 2013, 8:09 am
But, maybe they don’t or the language is not beneficial to Valentine, as the lawsuit never specifically discusses those sections of the LLC operating agreement. [read post]
5 Nov 2018, 4:00 am
I think most small businesses still go with the LLC for the flexibility and to take advantage of the flow through taxation. [read post]
5 Nov 2018, 4:00 am
I think most small businesses still go with the LLC for the flexibility and to take advantage of the flow through taxation. [read post]
27 Jul 2020, 4:17 am
The solution offered is to quit (“dissociate” from) the LLC even though it might violate the operating agreement. [read post]
12 Jan 2023, 1:16 pm
Some states go even further by requiring LLCs to specify whether they are member-managed or manager-managed. [read post]
2 Oct 2023, 4:22 am
In my experience, most operating agreements of New York LLCs include a provision barring amendments unless made in writing and executed by all members. [read post]
10 Feb 2020, 10:46 am
The majority ousted LLC member often lacks access to what is going on in that LLC business. [read post]
18 Jan 2018, 12:32 pm
In the end, the seminar reinforced that Delaware makes it easy to maintain and operate an LLC while giving credence to businesses and putting faith in these companies to maintain a solid LLC operating agreement. [read post]
3 Feb 2014, 3:51 am
Matter of Spires (Lighthouse Solutions, LLC), in 2004 and Matter of Horning (Horning Construction, LLC), in 2006 were among the earliest decisions to apply this so-called “statutory operating agreement. [read post]
28 Jul 2014, 8:24 am
Since I posted the article last week, I've corresponded with my friend John Cunningham, a New Hampshire attorney, a recognized expert on LLCs, a blogger, and co-author of Drafting Limited Liability Company Operating Agreements, my go-to reference for LLC law and operating agreements. [read post]
23 Feb 2024, 1:54 pm
In a derivative action, the judgment or settlement proceeds go to the corporation, not to the nominal plaintiffs. [read post]
15 Dec 2023, 7:00 am
They feel it can continue to operate. [read post]
1 Jan 2014, 4:12 pm
The problem therefore is most severe with existing LLCs whose operating agreements were drafted without knowledge that a new law was going to change the rules. [read post]
6 Jan 2008, 10:41 am
I had one case involving a LLC dissolution where one side's attorney fees were $40,000.00 and the other side $50,000.00 at the time of mediation and without a trial.I know this piece is rather long but before I go I think I need to make one more point about the costs of an operating agreement. [read post]
8 Oct 2018, 3:47 am
Where Does Yu, and Where Do We, Go From Here? [read post]
