IMPORTANCE OF ENTITY PROTECTION – LIMITED PERSONAL LIABILITY
EARLY INVOLVEMENT OF YOUR NEVADA BUSINESS LAWYER IS ESSENTIAL
Drafting Operating Agreements and Effects of Handwritten Amendments
An operating agreement is an agreement among members of an LLC outlining each member’s financial and managerial rights and duties. In Nevada, an operating agreement is preferred at the outset of formation of an LLC. An operating agreement is similar in function to corporate by-laws or a partnership agreement within a multi-member LLC. The larger the LLC, the more complex the agreement becomes necessitating the services of an attorney. Handwritten amendments to an operating agreement can be disastrous as explained below.
Disclaimer: This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. If you have questions or need specific advice relating to the matters contained herein, please contact Lovaas & Lehtinen, P.C.
EARLY INVOLVEMENT OF YOUR NEVADA BUSINESS LAWYER IS ESSENTIAL
Drafting Operating Agreements and Effects of Handwritten Amendments
An operating agreement is an agreement among members of an LLC outlining each member’s financial and managerial rights and duties. In Nevada, an operating agreement is preferred at the outset of formation of an LLC. An operating agreement is similar in function to corporate by-laws or a partnership agreement within a multi-member LLC. The larger the LLC, the more complex the agreement becomes necessitating the services of an attorney. Handwritten amendments to an operating agreement can be disastrous as explained below.
Disclaimer: This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. If you have questions or need specific advice relating to the matters contained herein, please contact Lovaas & Lehtinen, P.C.
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