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.
Jim Borchers has over 30 years of experience in small business, commercial transactions, real estate and estate planning. He received his BA in Economics from Valparaiso University, JD from Gonzaga University and LL.M in Taxation from Washington University, St. Louis. Jim teaches LLC’s for The Missouri Bar and NBI in Missouri, Kansas and for national audiences. He expects to publish a new Missouri limited liability company practice manual with forms in 2021.
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