Webcast to examine top 10 mistakes when drafting LLC agreements, July 21

American Law Institute Continuing Legal Education (ALI-CLE) will present the webcast  “Drafting LLC Agreements: Top 10 Mistakes and Oversights” on Thursday, July 21, from noon to 1:30 p.m.

At the heart of every limited liability company (LLC) is an operating agreement that documents every aspect of how the organization will be run and adapt during its existence. Operating agreements for multi-member LLCs are complex documents that set the guidelines for how major decisions will be made and how disputes will be resolved among members. An optimal agreement will achieve the goals of the LLC’s members regarding, among other things, fiduciary, succession, tax and management issues.

It is essential that operating agreements for multi-member LLCs be comprehensive, taking into account the financial, tax, and working relationships of the members in a way that addresses the specifics of the business. This 90-minute webcast will examine the keys to negotiating, drafting, and fine-tuning LLC operating agreements, including:

• Key components found in every operating or joint venture agreement

• What are the typical and most problematic sections of the agreement?

• Ways to address clauses involving tax allocations, capital contributions, and distributions

• Avoid concerns associated with audits transfers of interest, and dissolution

All registrants will receive a set of downloadable course materials to accompany the program.  Sample agreement provisions and sections will be included in the course materials.

Cost for the webcast is $249.To register, visit www.ali-cle.org.