Compared to corporation shareholders, members (i.e., “owners”) of limited liability companies (“LLCs”) are entitled to extensive information about their company. Consider the following... By comparison… In a prior e-newsletter, I discussed shareholder rights to information about their company. In short, New...
Can an unsigned agreement be binding? Limited Liability Company Operating Agreements… A limited liability company (LLC) operating agreement (OA) is, in the case of a multi-member LLC, an agreement of all the members of the LLC regarding the governance and...
An "owner" of a limited liability company ("LLC") is referred to as a "member." Is it possible (or wise) to have a limited liability company whose members include a minor? Consider the following... LLC members' interests and rights... As a starting...
What happens when the last member of a limited liability company dies? Consider the following… The conundrum… When a corporate shareholder dies, the shareholder’s stock passes to the deceased shareholder’s heirs. All of a shareholder’s rights (e.g., right to vote and...
I am often asked whether to transfer residential property into a limited liability company (LLC). Consider the following... Why transfer residential property to an LLC? It is not uncommon for an individual or a group of individuals to derive rental income...