An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

LLC operating agreements frequently provide for indemnity to the LLC’s manager. This is consistent with the statutory default rule embodied by California Corporations Code section 17704.08(a), which ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

Litigation between and among members in a limited liability company (LLC) can be, to say the least, complicated. Disputes over money usually are, but when a minority group of members believe that they ...

QUESTION: What is an LLC operating agreement, and what provisions does it typically include? Know the Law is a biweekly column sponsored by McLane Middleton. Questions and ideas for future columns ...

New Hampshire multi-member LLCs provide powerful legal and tax structures for their members and their businesses. These structures can enable the members to provide products and services to their ...

Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly. However, it can easily be inaccurately written or leave out ...

Wythe presented your standard closely held entity business divorce. Two individuals formed an LLC to serve as the vehicle through which they developed a hotel; years later, the co-members’ ...

Whether you’ve already taken the steps to create a limited liability company (LLC), or you’re still in the planning process, you’ve probably come across the term “operating agreement.” This guide will ...