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2021 Drafting LLC Operating Agreements

What you will learn:  Abandoning the “Corporate Mind-Set” and Adopting the “Partnership Mind-Set”  Articles of Organization - Understanding Who has Authority to Act and Why 
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Information

Practice Area:
Business & Corporate |  Tax
Format:
Audio and Video

Description

What you will learn: 

  • Abandoning the “Corporate Mind-Set” and Adopting the “Partnership Mind-Set” 

  • Articles of Organization - Understanding Who has Authority to Act and Why 

  • Management - Member vs Manager - Why it Matters 

  • The Sole Member Operating Agreement 

  • Initial Capital Contribution 

  • Voluntary Withdrawal - DANGER 

  • What Terminates Membership ... Events of Withdrawal 

  • Understanding Economic vs. Governance Interest (Charging Order Protection) 

  • Distriutions vs. Profit & Losses 

  • Meetings - Why? 

  • Dissolution - the Forgotten Operating Agreement Provision 

  • Transfer of Membership 

  • Trustee of Revocable Trust as Member - Transfer on Death 

Speaker: James A. Borchers, InNovare Law, LC, St. Charles 

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.

Materials

Faculty

2021 Drafting LLC Operating Agreements

James Borchers Related seminars and products: 2

InNovare Law, LC


Jim Borchers has over 30 years of experience in small business, commercial transactions, real estate and estate planning.  He received his BA in Economics from Valparaiso University, JD from Gonzaga University and LL.M in Taxation from Washington University, St. Louis. Jim teaches LLC’s for The Missouri Bar and NBI in Missouri, Kansas and for national audiences. He expects to publish a new Missouri limited liability company practice manual with forms in 2021.