Originating in Wyoming in 1977 and spreading thereafter to all fifty states, including to Tennessee in 1994, the limited liability company (LLC) has become the most popular form of entity for newly created businesses in the United States. Particularly since the IRS’s adoption of “check the box” regulations twenty years ago, entrepreneurs are drawn to the LLC due to its flexibility. State LLC Acts, including Tennessee’s, contain primarily default provisions and very few regulatory provisions. This makes the private ordering of the LLC through the drafting of the operating agreement absolutely essential to defining the rights and responsibilities of the LLC’s members.
The TBA Business Law Section’s 2019 Annual CLE Forum will help business lawyers learn and refresh their knowledge about issues that may arise when drafting an LLC operating agreement. Topics will include an overview of the two extant Tennessee LLC acts and a comparison of those acts with the Delaware LLC Act; other distinctions of Tennessee law that impact the operating agreement; drafting key provisions, including distribution and allocation, employee and member compensation, and exit rights; and ethical considerations for lawyers drafting LLC operating agreements.
SAVE MONEY: Use the prepaid CLE credits that come with your TBA Complete Membership.
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PARKING: You may park in the Commerce Street Garage (corner of 3rd Avenue/Commerce St.). We will be validating parking tickets, so please make sure to bring your ticket!
Thank You, 2019 Sponsors
This course is no longer available for purchase.
This program will be filed for Tennessee CLE credit. Please contact TBA for Georgia, Mississippi and Alabama credit.