You formed or want to form an LLC?
Bill Seeley
The Web has made it very easy and inexpensive to form a Limited Liability Company (LLC). However, if you have two or more members of the LLC, an Operating Agreement ("OA") is an absolute necessity. We are often contacted by Limited Liability Companies after formation to assist them with issues that could often be prevented by an Operating Agreement.
If one member of an LLC does something that does not serve the best interests of the LLC how do other members remove him? Where there is no Operating Agreement and thus no stated procedure, the other member(s) would have no recourse but to take it to court which is an expensive, time consuming and uncertain procedure.
• What happens in the event of death or incapacity of an LLC member?
• How does divorce of a member factor into the future of an LLC?
• Or the possibility of an unwanted new member?
An Operating Agreement is an inexpensive and necessary action to protect the interests of an LLC before an adverse event occurs. We help clients understand these matters and prepare Operating Agreements responsive to specific business and member configurations to provide them with predictable solutions should such events occur.
Email: wps@seeleyberglass.com Tel. (203) 256-3250
