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 ...

Dr. Adrienne B. Haynes, Esq. When you start an LLC (Limited Liability Company), most states will require the preparation of an operating agreement. An operating agreement is an internal document that ...

Is a limited liability company a party to and bound by its own operating agreement? Many folks would say, “Yes, of course.” But it turns out the answer varies depending upon the law of the company’s ...

An operating agreement is the internal rulebook for your LLC. It spells out who owns what, who makes decisions, how profits are divided and what happens if things go sideways. Think of it as the ...

When creating an entity, a common misconception is that anyone can set up the entity on their own since it is “just a filing with the state.” Since it is just a state filing, an attorney does not ...

An LLC operating agreement is a legal document that outlines the operations and management of the LLC, and sets out the rights and obligations of the LLC’s members. As we noted above, you’ll need an ...

Talk about a roller coaster ride. Years ago, we wrote about Lengyel-Fushimi v Bellis, a pitched legal battle for control of a Brooklyn brewpub, Kings County Brewers Collective, LLC (“KCBC”), yielding ...

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 ...

If you are a New Hampshire LLC member or manager or if you plan to form a New Hampshire LLC, you and your business advisers need to have a solid basic knowledge of LLC law and tax in order for your ...

Lindsey Crossmier has been a financial writer since 2022, and has been regularly quoted as an expert in outlets such as U.S. News, GOBanking Rates and Yahoo! Finance. She leverages her Yale financial ...

Florida doesn’t require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you’re forming your LLC in the Sunshine State, it’s still a good idea to have one ...