Explore the basics of operating agreements with this half-day seminar in Chicago or via live webcast on September 3, 2015 that’s designed to help newer attorneys gain a general understanding of how LLCs work! Attorneys representing business clients will often be called upon to form limited liability companies and to draft operating agreements for those entities. As such, it is important for you to understand the basic structure and key issues of operating agreements, which serve as the governing instrument between the members and managers of limited liability companies. Attorneys attending this half-day seminar will better understand: the statutory default rules of an operating agreement; what should and shouldn’t be included in the agreement; capital contributions; tax provisions, special allocation rules, Section 754 election, and alternatives to partnership tax treatments; the restrictions (if any) that are placed on the transfer of a member’s LLC interests; and much more!

The program is presented by the ISBA Business & Securities Law Section and qualifies for 3.50 hours MCLE credit.

Click here for more information and to register.