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10 Oct 2018, 5:00 pm by Benjamin F. Jackson, Stephen P. Younger
  However, some LLC operating agreements do not contain such a provision, and instead simply require the consent of members holding a majority of the member interests. [read post]
20 Jun 2016, 3:16 am by Peter Mahler
The case involves a Connecticut LLC formed in 1995 as a single-asset realty company whose four members were Yvonne Cuseo holding a 57% membership interest and her son and two grandsons holding the balance. [read post]
11 Sep 2009, 1:00 am
KRN Holding, LLC   filed for Chapter 11 bankruptcy relief on August 5, 2009 in the Central Islip Bankruptcy Court under case number 8-09-75889. [read post]
15 Jan 2021, 2:29 pm by IncNow
LLC Members can simultaneously hold many different titles/positions in an LLC. [read post]
10 Nov 2014, 6:43 am by Mack Sperling
There is nothing new in holding that one 50% member does not have the power to retain counsel for the LLC in a lawsuit against the other 50% member. [read post]
16 Feb 2022, 8:29 am by IncNow
Other examples of Major Decisions include admission of new members, or dilution of the interests of existing members. [read post]
13 Nov 2023, 4:07 am by Peter Mahler
I also observed how those developments have hobbled the ability of New York courts to resolve disputes among co-owners of LLCs and especially in dissolution cases, at least compared to the majority of states that have adopted the Revised Uniform LLC Act or otherwise have similarly updated their LLC statutes, unlike New York. [read post]
30 Jan 2017, 3:34 am by Peter Mahler
 But whatever the answer, the appellate court has spoken in Shapiro, and unless and until New York’s highest court says otherwise, if there isn’t an operating agreement signed by all members when the LLC is formed, at any time thereafter those holding a majority of the voting interests may adopt an operating agreement without the signature or consent of minority members. [read post]
12 Jul 2010, 10:15 am by Douglas Reiser
  The holding in Chadwick was a major blow to consumers who were left out in the cold after an LLC had terminated business. [read post]
4 Feb 2020, 12:21 pm by IncNow
They will periodically hold meetings and oversee the direction of the LLC. [read post]
26 Feb 2018, 3:49 am by Peter Mahler
The two defendant members, holding a majority interest in the LLC, accused the plaintiff member of misappropriating rents. [read post]
14 Sep 2018, 1:50 pm by IncNow
Other examples of Major Decisions include admission of new members, or dilution of the interests of existing members. [read post]
24 Jan 2022, 2:46 am by Peter J. Sluka
Cohen, in McCormack v Kuras, Index No. 656434/2021 [Sup Ct, New York County] and its related case, Triboss Brooklyn LLC v Kuras, Index No. 654282/2021 [Sup Ct, New York County]). [read post]
18 Jan 2023, 6:42 am by Drew Emmert
The New Act will govern all LLCs whether formed before or after the effective date of the New Act including foreign LLCs qualified to do business in Ohio. [read post]
2 May 2016, 3:09 am by Peter Mahler
Mickenberg Now we come to the cases with no operating agreements, both involving New York LLCs. [read post]
15 Nov 2010, 3:00 am by Peter A. Mahler
A limited liability company named Ocelot Capital Management, LLC made some new law last month on a narrow but interesting issue: Can the majority member of a manager-managed New York LLC bring a derivative action on its behalf when the manager position is vacant, without alleging either a prior demand upon the manager or that such demand would be futile? [read post]
25 Apr 2023, 7:24 am by Matthew Dochnal
How to Become an LLC Member To become an LLC Member, existing LLC Members need to hold a vote on whether to admit the new member. [read post]
8 Aug 2016, 3:25 am by Peter Mahler
  The Supreme Court agreed with Carroll, holding that: a disagreement among LLC members over the terms of an operating agreement does not necessarily compel the expulsion of a dissenting LLC member. [read post]