Last week’s post examined an unusual case in which the court appointed a temporary receiver of an LLC pending the adjudication of the minority members’ petition for judicial dissolution. But what ...

Decisions regarding the operation and management of an LLC are made by a vote of the business's owners, according to "Your Limited Liability Company: An Operating Manual" by Anthony Mancuso. The ...

A limited liability company, also called an LLC, is a business entity type that enjoys certain legal and tax benefits modeled after a corporation, but it is not an actual corporation. An LLC has ...

Under both New York and Delaware law, members of an LLC may petition for judicial dissolution on the grounds that the management is so hopelessly deadlocked that the LLC can no longer function in ...

How to dissolve an LLC Once a business owner decides to go out of business, they may not be enthusiastic about taking the time to wrap things up properly. But filing paperwork with the state and ...

Section 702 of the LLCL permits judicial dissolution “whenever it is not reasonably practicable to carry on the business in conformity with the articles of organization or operating agreement.” 2 The ...

Should you need to shutter your business, dissolving your LLC is a major part of closing down your operations. Going through the proper dissolution steps can protect you from potential liabilities. In ...

With over a decade of editorial experience, Rob Watts breaks down complex topics for small businesses that want to grow and succeed. His work has been featured in outlets such as Keypoint Intelligence ...

Once a business owner decides to go out of business, they may not be enthusiastic about taking the time to wrap things up properly. But filing paperwork with the state and notifying creditors are ...