News & Analysis as of

Limited Liability Company (LLC) Membership Interest Corporate Governance

Farrell Fritz, P.C.

For Embattled Bich Family, “Full Membership” Requires Admittance Without Precondition

Farrell Fritz, P.C. on

We’ve recently written on a number of disputes arising out of posthumous transfers of corporate ownership interests, particularly where the transfer documents in question (often times, an estate planning device, e.g., a will...more

Winstead PC

Entity Formation as a Process: The Strategic Importance of Carefully Drafting Limited Liability Company Agreements Before Forming...

Winstead PC on

From early-stage startups to seasoned enterprises, businesses eventually form at least one legal entity to carry out their operations. Down the road, as opportunities arise for a business to expand, acquire others, merge, or...more

Farrell Fritz, P.C.

Use Caution When Amending Your Operating Agreement Without Unanimous Consent

Farrell Fritz, P.C. on

In my experience, most operating agreements of New York LLCs include a provision barring amendments unless made in writing and executed by all members. Such provisions are especially prevalent with smaller, member-managed...more

Stradling Yocca Carlson & Rauth

The Unexpected Complexities of Transferring an Ownership Interest in a Limited Liability Company – And How to Navigate Them

Limited Liability Companies (LLCs) are a common business structure. Combining the best elements of corporations and partnerships, LLCs offer liability protection while maintaining operational flexibility....more

Farrell Fritz, P.C.

Operating Agreement Trumps Postnup in High Stakes Battle Over Transfer of LLC Interest

Farrell Fritz, P.C. on

Husband owns 99% membership of manager-managed LLC. Children own remaining 1%. Postnuptial agreement says husband’s “interest” in LLC goes to wife. LLC agreement says any transferee is not admitted as a member absent the...more

International Lawyers Network

Establishing a Business Entity in Hungary (Updated)

Since 1990, the Hungarian economy is based on the principles of market economy and considers the freedom of economic competition as a priority. On such basis, the regulation of business associations went through significant...more

International Lawyers Network

Establishing a Business Entity in Hungary (Updated)

Since 1990, the Hungarian economy is based on the principles of market economy and considers the freedom of economic competition as a priority. On such basis, the regulation of business associations went through significant...more

Allen Matkins

LLC Interests - Securities Or Not?

Allen Matkins on

Unlike the Securities Act of 1933, California's Corporate Securities Law of 1968 includes interests in limited liability companies in the list of securities...more

Snell & Wilmer

Let Me Tell You ALLCA Bout It: Arizona Adopts ALLCA to Fill Gaps and Create Uniformity Amongst Arizona LLCs

Snell & Wilmer on

Arizona Governor Doug Ducey signed SB 1353 into law on April 10, 2018, repealing Arizona’s previous LLC laws and replacing them with the new Arizona Limited Liability Company Act—colloquially known as ALLCA.1 ALLCA becomes...more

International Lawyers Network

Establishing A Business Entity In Hungary

1. Introduction - Since 1990, the Hungarian economy has been based on the principles of market economy and considers the freedom of economic competition a priority. On this basis, the regulation of business associations...more

Winstead PC

Heavy is the Head That Wears the Crown: Overcoming Legal & Business Challenges Faced by Majority Owners of Texas Limited Liability...

Winstead PC on

The majority owners of private Texas limited liability companies (LLC’s) enjoy a mixed blessing when they also manage their companies. Majority owners have the power to direct their private companies as they deem fit, but...more

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