Topic
Operating Agreement
81 published works
Lancaster Law Blog
Mistakes to Avoid When Forming a Limited Liability Company (LLC), Part 1: Operating Agreement
This two part series will cover the most common mistakes people make when trying to form a Limited Liability Company (LLC) themselves. The first part of this series will address…
New York Business Divorce
Avoiding the Pain of Achaian, or How Not to Draft LLC Membership Transfer Provisions
A recent and controversial decision by the Delaware Chancery Court highlights the need for counsel drafting multiple-member LLC operating agreements to focus attention on whether, and if so the circumstances…
New Jersey Law Blog
The Right to Resign under the New Jersey Limited Liability Company Act
As more and more business owners are forming limited liability companies ("LLC's") to operate their businesses, familiarity with the statute that governs limited liability companies (which in New Jersey is…
New York Business Divorce
Dispute Over Authenticity of Operating Agreement Leads to Reversal of Order Summarily Granting LLC Dissolution
The hydra-headed Ficus Investments litigation is the gift that keeps on giving, at least to students of business divorce. This week's New York Business Divorce highlights the latest appellate decision…
New York Business Divorce
Interview with Delaware LLC Experts and Practice Manual Co-Authors John Cunningham and Vernon Proctor: Part I
The importance of a well-drafted operating agreement cannot be underestimated when it comes to keeping the peace among members of a limited liability company. This week's New York Business Divorce…
New York Business Divorce
Delaware Supreme Court Upholds Application of Statute of Frauds to Oral LLC Operating Agreements
In an important ruling yesterday, the Delaware Supreme Court upheld application of the statute of frauds to oral LLC operating agreements. Today's posting links to Professor Larry Ribstein's analysis.
New York Business Divorce
Appellate Court Finds Operating Agreement “Silent” on Sale of LLC’s Sole Asset, Upholds Approval by Majority Vote Under Statute’s Default Rule
Last month the Appellate Division, Second Department issued an important decision concerning the application of the LLC Law's default rules where the operating agreement is silent on a disputed issue.…
New York Business Divorce
Poorly Drafted Disability Clause in Operating Agreement Provides Novel Defense to LLC Dissolution Proceeding
If you think you've seen it all when it comes to corporate dissolution contests, think again as you read this week's New York Business Divorce which looks at a case…
New Jersey Law Blog
What To Include In Your Limited Liability Company’s Operating Agreement
In a limited liability company (LLC), if no operating agreement (the agreement between the members of the LLC) is in place, the limited liability company statute of the state where…
New York Business Divorce
LLC Member’s Marital Woes Lead to Loss of Membership Interest
This week's New York Business Divorce examines an intriguing case involving an LLC whose operating agreement required a member to transfer his interest to the other members because of his…