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Deadlock-Breaking Mechanisms in LLC Operating Agreements

Familiarize yourself with different mechanisms designed to prevent or avoid a deadlock from occurring in your workplace.

Entities created by state statute are creatures of contract and managed by individuals who do not always agree and so it is possible for a deadlock to arise and if the issues on which the parties are deadlocks is significant enough, it could jeopardize the existence of the entity and expose the owners to untimely and punitive effects, let alone ruin relationships. This topic will help you understand what constitutes a deadlock, what causes the deadlock, and what the consequences are, if there is a deadlock. Most importantly, this information will examine different mechanisms designed to prevent or avoid a deadlock from occurring. Lastly, this topic will address what happens if there is a deadlock and there is a mechanism in place to address it, and how those alternative dispute resolution mechanisms can by utilized.

Runtime: 99 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

When Deadlocks Arise: What Happens?

  • Definition of "Deadlock"
  • Causes of Deadlocks
  • Consequences of Deadlocks

How to Prevent Deadlocks

  • Buy-Sell Agreement
  • Put-Call-Expel
  • Partition

Undeadlocking Deadlocks

  • Arbitration
  • Judicial Expulsion
  • Custodial Receivership
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on January 23, 2019.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.7
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Purchase Options

More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Craig Long

Craig Long

Craig Long LLC

  • Partner in the office of Craig Long LLC
  • Practice emphasizes all aspects of unincorporated business associations, mergers and acquisitions and title insurance underwriting
  • Conducts regular seminars and workshops on numerous unincorporated business associations, mergers and acquisitions and title insurance underwriting
  • Written several publications related to the areas of securities regulation
  • Member Georgia and Alabama Bars; ABA Business Law Section
  • J.D. degree, Antonin Scalia Law School at George Mason University; B.S. degree in government; Liberty University
  • Can be contacted at 678-679-0680, [email protected] or on TwitterŽ @craigalong
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404770
Published 2019
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