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Removing an LLC Member

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The easiest way change the LLC structure is to have the leaving members consent to terminate their status as members, then amend or draft a new LLC Operating Agreement deleting their names. You should review the filings with the secretary of state to make sure none of the removed partners signed any. If they did, […]

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Questions to Consider When Writing an LLC Operating Agreement

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Here are some questions to consider before starting your LLC and forming your Operating Agreement. Start Up: How much money is each member contributing to starting the business? Will someone contribute more? What if you need more money? Will you open the doors to outside investment? Will the members contribute more money? What is each […]

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What Clauses to Include in an LLC Operating Agreement?

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There are several important clauses that an LLC Operating Agreement needs. If you are considering having an operating agreement created for your LLC, be sure to consider these clauses and discuss them with your attorney: Equity structure – how much each partner is putting into the new business, and what their economic and management interest […]

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Why is Limited Liability Important?

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John and his wife, Mary, own a flower delivery business. They’re equal partners, sharing decision making and other responsibilities 50/50. They own a small building downtown for their shop, near the two-story townhouse they bought together, and in addition to the family sedan also own a delivery van with “John and Mary’s Flowers” written in […]

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