An LLC operating agreement is a legal document that details the rules and regulations of a limited liability company (LLC) with regards to financial and functional decisions. It covers everything ...

In In re 301 W North Avenue, LLC, 2025 WL 37897 (Bankr. N.D. Ill. 2025), a bankruptcy court recently addressed provisions in a loan agreement and limited liability company (“LLC”) operating ...

Before drafting the agreement, call a meeting for all LLC members, including the member whose membership in the LLC will be bought out. To prepare for the meeting, circulate a written agenda among ...