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Limited Liability Companies: Common Traps to Avoid

 

Find out how to ensure your LLC meets the requirements necessary to avoid these common pitfalls.

Many limited liability companies have no company/operating agreements. Others have agreements which are sloppily written, don't match what the company actually does, or contain land mines. The laws regulating creditors' ability to invade LLCs and vote their members' interests is also constantly changing. Careful drafting is essential to avoid this threat. This topic helps attorneys and businesspeople to understand the risks of forming and operating an LLC. It explains how to create a company/operating agreement that clearly defines the roles and duties of members and managers and minimizes their liability. It discusses how to avoid the perils of veil piercing, and how to use well-drafted assignability and charging order provisions to foil judgment creditors. It explains complex tax provisions that, if not understood, can jeopardize how LLC profits and losses are distributed and taxed.

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Limited Liability Companies: Common Traps to Avoid

Agenda

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Limited Liability Companies: Common Traps to Avoid

Faculty

Gretta C. Spendlove

Gretta C. Spendlove

Dentons Durham Jones Pinegar P.C.

  • Shareholder with Dentons Durham Jones Pinegar P.C.
  • Practice emphasizes commercial real estate, corporate law, business transactions, and trademarks
  • Conducts regular seminars and workshops in fields of real estate contracts, land use and title law, easements and boundary disputes, commercial financing and leasing, and use of LLCs for real estate development
  • Member, CCIM, NAIOP, CREW, ULI, ACG
  • J.D. degree, University of Arizona
  • Can be contacted at 801-415-3000 or [email protected]
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Limited Liability Companies: Common Traps to Avoid

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