Importance of Operating Agreements for LLCs - Wolf Commercial Real Estate

Importance of Operating Agreements for LLCs - Wolf Commercial Real Estate

One of the most common types of business entities these days is a limited liability company (LLC). Those clients with one should have Operating Agreements in place. Download Printable Article (PDF) >>> If not, the State’s Revised Uniform Limited Liability Company Act will govern the relationship and often will not produce the client’s desired result. For example, cash distributions, voting and management rights may differ from the parties’ expec…