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 ...

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

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 ...

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 ...

The voting rights of limited liability company owners, who are called members, can be outlined in the company's operating agreement. This document includes the rules on how the voting process for a ...

I often hear vessel owners, brokers and others in the marine industry ask why they need an attorney to form a limited liability company, when filing one form online can typically accomplish it. The ...

A chapter 13 debtor was a member of a limited liability company. Another member sought relief from the automatic stay in order to exercise a right to acquire the debtor’s membership interests pursuant ...

Joint operating agreements set forth provisions to govern specific operational partnerships between two or more organizations, whether they are private businesses, corporations or government entities ...

This article, written by litigators, is intended to inform drafters of the need for clearly delineated rights to indemnification, on one hand, and fee advancement on the other. It surveys New York's ...

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’ ...

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 ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...