In New York, Email or Oral Agreements May Constitute an Operating Agreement for an LLC

When entrepreneurs form a New York LLC, most assume that the crucial step is filing the Articles of Organization. But equally important—and often overlooked—is adopting a valid operating agreement. Under New York’s Limited Liability Company Law (NYLLCL), every LLC should  adopt a written operating agreement, but the statute imposes no penalty if the members fail to do so. What many business owners do not realize is that New York courts may treat emails, informal writings, or even oral…