Drafting LLC Operating Agreements, Part 1 & Part 2 - Audio Webcast
December 2019
Wednesday, December 11, 2019 & Thursday, December 12, 2019
Drafting LLC Operating Agreements, Part 1 & Part 2
Topics to be covered:
Part 1
- Planning for different types of capital contributions – capital v. services, current contributions v. future capital calls
- Management provisions depending on whether the LLC is member-managed v. manger-managed LLCs
- Fiduciary duties of members, modifications, and the “LLC opportunity doctrine”
- Restrictions on transfers of capital and profits interests
- Relationship between tax allocation and property distribution provisions, including IRC Section 704(b) accounting
Part 2
- Drafting allocation provisions for maximum tax benefit and to secure the safe harbor
- How “payments to member” (not distributions) are treated for financial v. tax purposes
- Drafting ordinary distributions, minimum tax distributions, waterfall distributions, liquidating distributions
- Rights of first refusal, rights of first offer, buy-sell provisions – understanding the alphabet soup of exit alternatives
- Liquidations of the entity and sale of an individual member’s interests
Faculty: Paul Kaplun, Venable LLC, Washington, DC
Each program will run from 11:00 a.m. to 12:00 p.m. M.T. (60 minutes each).
Registration Fees
| Non Member | $109.00 |
| CBA Member | $79.00 |
| CBA Business Law Section Member | $69.00 |
| CBA Taxation Law Section Member | $69.00 |
| CLE Elite Pass Holder | $0.00 |
- General Credits: 2.00
- Ethics Credits:
- EDI Credits:
To join the CBA or add a Section to your membership click