2021 Drafting LLC Operating Agreements

What you will learn: 

• Abandoning the “Corporate Mind-Set” and Adopting the “Partnership Mind-Set” 

• Articles of Organization - Understanding Who has Authority to Act and Why 

• Management - Member vs Manager - Why it Matters 

• The Sole Member Operating Agreement 

• Initial Capital Contribution 

• Voluntary Withdrawal - DANGER 

• What Terminates Membership ... Events of Withdrawal 

• Understanding Economic vs. Governance Interest (Charging Order Protection) 

• Distriutions vs. Profit & Losses 

• Meetings - Why? 

• Dissolution - the Forgotten Operating Agreement Provision 

• Transfer of Membership 

• Trustee of Revocable Trust as Member - Transfer on Death 

Speaker: James A. Borchers, InNovare Law, LC, St. Charles 

Note: This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for GAL Certification, ethics, elimination of bias or Kansas credit.