Search for: "Provident Operating Company, LLC"
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26 Oct 2018, 8:06 am
Further, most operating agreements provide that no member has any right to partition any assets of the company or any right to receive any specific assets upon liquidation of the company or upon any distribution from the company. [read post]
26 Oct 2018, 8:06 am
Further, most operating agreements provide that no member has any right to partition any assets of the company or any right to receive any specific assets upon liquidation of the company or upon any distribution from the company. [read post]
16 Dec 2021, 6:07 am
In many cases, structuring a business as a limited liability company (LLC) can provide a number of benefits. [read post]
9 Sep 2011, 7:19 am
When it comes to LLCs, the laws are still developing, but more and more courts find that LLC’s provide the same, if not better, protection against creditors as corporations. [read post]
3 Jul 2013, 12:52 pm
That section provides that the terms of an operating agreement, once signed by the members of the LLC, are the beginning and end of each member's rights. [read post]
3 Jul 2013, 12:52 pm
That section provides that the terms of an operating agreement, once signed by the members of the LLC, are the beginning and end of each member's rights. [read post]
10 Jan 2008, 1:00 pm
Let us look at a few things the operating agreement brings to running the LLC. [read post]
11 Apr 2023, 11:29 am
Tax income/loss (deemed distributions): These are allocations of the company’s income, gains, losses, deductions and credits provided to LLC Members. [read post]
27 Sep 2011, 5:44 pm
Key Legal Principles The Court acknowledged the truism of Delaware LLC law that a member-manager of a Delaware limited liability company owes traditional fiduciary duties to the LLC and its members unless limited by the LLC operating agreement. [read post]
26 Oct 2012, 9:58 am
This is assuming, of course, that your LLC operating agreement doesn’t provide something else. [read post]
29 Oct 2018, 5:00 am
Under New York Limited Liability Company law, you can only withdraw under the circumstances provided for in the operating Agreement (Section 507). [read post]
Repeat After Me: You May Not Expel a Member of a New York LLC Unless the Operating Agreement Says So
17 Sep 2018, 3:25 am
Further, while the Limited Liability Company Law provides that a manager of an LLC may be removed, that requires a majority vote, which [Respondent] lacks as [Petitioner] owns half of the interest in Vintage India (see LLCL § 414). [read post]
4 Nov 2018, 12:42 pm
Many Tennessee Limited Liability Companies (“LLCs”) are set up, for whatever reason, so that their operating agreements do not provide for the buying out or expulsion of a member, whether pursuant to a mandatory buy-sell clause or pursuant to a clause that sets forth conduct which is grounds for expulsion. [read post]
19 Apr 2023, 5:03 pm
A recent opinion from the United States Bankruptcy Court for the Central District of California, In re The Hacienda Company LLC, Case No. 2:22-bk-15163-NB, 674 B.R. 748 (Bankr. [read post]
30 Mar 2015, 9:25 am
For example, the operating agreement now allows LLCs to restrict members from bringing lawsuits against other managing members on behalf of the company or seeking judicial dissolution of the LLC without first pursuing alternative remedies. [read post]
10 Jan 2008, 6:31 pm
Limited liability companies provide asset protection benefits, not because the membership interest in an LLC is exempt from levy and collection, but because the Florida statutes limit a creditor's collection remedies to that of a charging lien on LLC distributions, if any, to the debtor. [read post]
30 Nov 2020, 7:08 am
If the Operating Agreement provides how the valuation and payment is to be made, then its terms will control. [read post]
25 Sep 2018, 8:26 am
In this mechanism, any member can invoke the process by giving a notice to the other members, and providing a number which is supposed to represent the value of the company’s assets. [read post]
15 Apr 2014, 10:01 am
However, when the LLC operating agreement is silent, the new Revised Uniform Limited Liability Company Act will govern. [read post]
11 Nov 2019, 3:45 am
Even if the Operating Agreement is “silent” with respect to the replacement of Managers and the default provisions of the LLCL apply, the continued decision to keep Win Win Asset Management LLC as the managing agent of the company is also a major management decision for the Company, and requires a majority vote. [read post]
