DEALING WITH “FLOATING INTERESTS” IN LLC OPERATING AGREEMENTS

October 24, 2019

The attached excellent new post by Peter Mahler, based on a very recent New York case, describes the very scary legal and  persons consequences that can arise when members of a multi-member LLC fail to define adequately in their operating agreement the circumstances in which the members’ rights to share in LLC profits will change because of changing circumstances.

The Perils of Indeterminate LLC Membership Interests

 

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