Topic
Operating Agreement
81 published works
New York Business Divorce
Use Caution When Amending Your Operating Agreement Without Unanimous Consent
Should LLC operating agreements require unanimous consent of the members to amendments? As this week's New York Business Divorce discusses, there's no single right answer to the question.
Virginia HOA and Business Law Blog
Getting rid of an LLC member in your business can be difficult without an effective operating agreement
By John Tarley
It may seem hard to believe, but there’s a chance you and your fellow members in your limited liability company may not always get along. In fact, the relationship may…
Motiva Business Law
What is an Operating Agreement and Why Does Your LLC Need It?
What is an operating agreement? An operating agreement is the governing document of a Limited Liability Company (LLC). This document dictates the obligations and rights of the owners of the…
Florida Business Litigation Blog
Member Disputes in an LLC
What happens if the members or managers of a limited liability company (“LLC”) can’t agree on the operations of the business? What happens if a member fails to comply with…
Wisconsin Trial Lawyers Blog
How Will Wisconsin’s New LLC Law Affect Businesses?
By GRGB Lawyers
Business owners have multiple options during the business formation process as they determine how a company should be structured. In many cases, structuring a business as a limited liability company…
New York Business Divorce
LLC Forced Buy-Out Pits Fair Value Against Fair Market Value Against Power to Amend Operating Agreement
If you want to find out what can happen when an LLC agreement authorizes member removal for any or no reason but doesn't address compensation for the terminated member's interest,…
O'Neil, Cannon, Hollman, DeJong & Laing S.C. Articles
How Do Wisconsin’s New LLC Laws Impact My Company?
In April of 2022, Wisconsin passed new business entity laws, greatly impacting limited liability companies and their members, and largely overhauling and replacing Chapter 183 of the Wisconsin Statutes, which…
New York Business Divorce
And a Time to Every Purpose Under . . . the Operating Agreement?
A recent Commercial Division ruling involving a realty holding LLC unable to develop its property raises interesting questions about whether the LLC can achieve its stated purpose under the standard…
Bradley Business Divorce
The Benefits of Reading the Fine Print: Look Under the Hood Before Signing Company Agreements
By Ladd Hirsch
Private company majority owners and minority investors often focus on the company’s financial health and growth prospects, and may not take the time to review the operating documents of the…
New York Business Divorce
The Operating Agreement Controls, Unless Public Policy Says Otherwise
This week's post considers a duo of recent decisions concerning disputes between LLC members over the terms of their operating agreement. In the first case, the court considered whether to…