Andy Immerman was a featured presenter during this teleconference program sponsored by Professional Education Broadcast Network Teleconference. The ease of forming LLCs, and their seeming flexibility and convenience, belie the substantial complexity of drafting LLC operating agreements. The agreements have to anticipate and plan for the life cycle of the organization—not only the contributions of property on formation and distributions over time, but also ongoing management control and the resolution of conflicts, the inevitable departure of members or sales of LLC interests, and liquidation of the entity. Most of these issues also have substantial tax consequences that need to be planned and incorporated into the agreement. This program provided a practical guide to drafting the major components of an LLC operating agreement, including both organizational and tax law issues.
October 11-12, 2011
October 11-12, 2011