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3 Feb 2020, 3:53 am
But whatever the outcome for the parties, let it be said, the case of Shapiro v Ettenson already has left an indelible mark on LLC governance when members launch their LLC without an operating agreement, as happens with greater frequency than you might think. [read post]
6 Jul 2012, 10:48 am
This post is the fourth in a series exploring techniques to attract and retain key employees, directors, and other service providers of privately held companies through equity-based compensation arrangements and alternative arrangements that provide cash payments tied to the value of the company’s stock or ownership interests. [read post]
5 Sep 2011, 9:58 am
I recently met with one member of a two-member LLC with no operating agreement. [read post]
28 Feb 2022, 4:38 am
The operating agreements for the Companies were substantially the same, and each provided for monthly distributions to the plaintiff based on monthly profits. [read post]
15 Dec 2022, 7:50 am
Membership Certificates are only derivative of any rights provided in the Operating Agreement. [read post]
8 Nov 2021, 4:45 am
As the Court framed the issues: [D]efendants argue that: (1) the copy of the operating agreement plaintiff provided is only signed by three of the 14 members of defendant 391 Broadway LLC and therefore unenforceable; [and] (2) the operating agreement was entered into more than six months after 391 Broadway LLC filed its Articles of Organization and is therefore invalid under § 417 (c) of New York Limited Liability Law. [read post]
4 May 2021, 4:45 am
If you have no operating agreement, the law provides in Section 606: Notwithstanding anything to the contrary under applicable law, unless an operating agreement provides otherwise, a member may not withdraw from a limited liability company prior to the dissolution and winding up of the limited liability company. [read post]
16 Oct 2023, 11:03 am
Their confidence in providing funds hinges on both your credibility and the company’s viability. [read post]
22 Apr 2013, 8:05 am
However, LLCs are becoming more widespread, even for operating businesses. [read post]
8 Jan 2016, 6:06 am
The trust had an amendment that provided for the interest in the LLC to pass to the Decedent’s girlfriend upon his death, and the court found that this instrument was subordinate to the provisions of the Operating Agreement. [read post]
5 May 2015, 7:57 am
First, Section 18-702(b)(1) provides that an assignee is not a member unless specified in the LLC agreement, and the initial operating agreement did not specify that WU Sub was a member. [read post]
11 Jul 2016, 3:15 am
What advice can lawyers provide when members of an LLC with two equal members cannot resolve deadlock under the operating agreement, and express their preference to duke it out in court? [read post]
18 Jan 2023, 12:56 pm
The LLC Operating Agreement lists the owners and managers of the LLC. [read post]
13 Dec 2019, 10:00 am
A limited liability company (LLC) is a type of business entity. [read post]
10 Jan 2008, 1:22 pm
However, I think a well founded LLC has an operating agreement. [read post]
21 Feb 2018, 6:00 am
The Delaware Limited Liability Company Act’s policy is to give the maximum effect to the principle of freedom of contract in LLC operating agreements. [read post]
1 May 2013, 1:02 am
GOVERNING FORMALITIES If the LLC is to be managed by Managers who are not Members, is the Operating Agreement to provide for annual meetings of the Members? [read post]
26 Apr 2022, 8:50 am
A contract called an LLC Operating Agreement governs an LLC. [read post]
20 Aug 2019, 7:55 am
IncNow can provide this document at the time you form a company or up to 20 days after formation. [read post]
7 Aug 2009, 8:22 pm
One of my favorite entities is the Georgia Limited Liability Company (LLC). [read post]
