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Operating Agreements & LLCs

Corporate Business Attorney Serving New York City

For more than a decade, Alba Law Firm has represented numerous clients in business law matters. Operating agreements are complicated, and must abide by certain state requirements. If you need help drafting an operating agreement for your LLC, our NYC corporate business lawyer can analyzes you situation and provide informative legal assistance. Contact us today to receive personalized attention for your case.

What You Need to Know About LLC Operating Agreements in New York

An operating agreement is a contract that sets forth the rights and responsibilities of members in a limited liability company (LLC). In New York, the operating agreement may be drafted before, at the same time as, or within 90 days of filing the Articles of Organization. As an internal document, the operating agreement does not need to be filed with the Department of State.

An operating agreement must include certain information regarding various aspects of the LLC. These include:

  1. Management and voting
  2. Liability of members
  3. Contributions of members
  4. Dissolution and termination
  5. Membership changes and transitions
  6. Distribution of profits and losses

Essentially, an operating agreement lays out the legal requirements and procedures for both the day-to-day operation of the LLC and for special circumstances (such as when a member dies or leaves the LLC). An operating agreement may also provide details on how meetings should be conducted, as well as many other aspects of the LLC. Each operating agreement is unique to the specific needs of the LLC it is written for. Since it is a legally binding contract, it is important to have experienced legal counsel to review it.

Knowledgeable NYC Corporate Business Attorney

If you are establishing an LLC and need help drafting an operating agreement, Alba Law Firm can help. With years of experience, our NYC corporate business lawyer can analyze the contract to ensure it meets state requirements, and discuss any issues or concerns you have regarding your business. We have helped numerous clients navigate complex business contracts, and are ready to provide informative assistance.

For efficient representation in New York, call our office today at (800) 275-0251. We are available 24/7 for your convenience.

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