AMENDABLE: PROTECTING MINORITY MEMBERS’ INTEREST IN LIMITED LIABILITY COMPANIES
Section 417 of the New York Limited Liability Company Law (NY LLCL) requires that the members of a limited liability company (LLC) adopt a written Operating Agreement establishing, among other things, the rights, responsibilities, and limitations of the members. The adoption of an Operating Agreement is a perfunctory exercise to many LLC members who are—unsurprisingly—more […]
