IRREVOCABILITY OF LLC MEMBER BUY-OUT RIGHT

April 21, 2020

The very recent Delaware Court of Chancery case discussed under the link below is yet additional evidence that if you want any specific buy-out right or other right in an operating agreement to be revocable, the operating agreement must explicitly so provide.

https://www.lexology.com/library/detail.aspx?g=51b78f76-8db1-4696-b7b2-610b817b3a02&l=8UX9J5Q

 

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