Somehow, we’ve finally made it to 2021, and at least a few readers may have formed new business entities with the Secretary of State that have effective dates of Jan. 1, 2021. Among other benefits, ...

LLC managers (or members vested with decision-making authority) are sometimes lulled into a false sense of security by “sole discretion” provisions in their LLC’s operating agreement. That can be a ...

Limited liability companies, like partnerships both general and limited, are fundamentally creatures of contract law. The members agree with each other as to the business to be conducted by the LLC, ...

An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

A single-member LLC is a limited liability company owned by one partner. Many, or all, of the products featured on this page are from our advertising partners who compensate us when you take certain ...

In Texas, your operating agreement (also called a "Company Agreement") is the defining document that governs how your LLC operates. Unlike corporations, which must follow rigid state-imposed ...