February 19, 2015

Our Mini-Theme: Aspects of LLCs and Alternative Business Organizations

Thomas E. Rutledge

The LLCs, Partnerships and Unincorporated Entities Committee is proud to sponsor this issue of Business Law Today. The range of issues that arise within the ambit of the Committee’s scope is exceptional. The Committee provides its members with practical information on the most broadly utilized business structure in the country, the limited liability company, as well as analysis and comparison of other business forms, such as partnerships and limited partnerships. It has assisted in drafting various unincorporated business entity acts, and also prepared and made available annotated forms and other materials. Our activities range from monitoring substantive internal law to the manner in which these business organizations relate to numerous other areas of law, including agency, bankruptcy, securities regulation, and taxation. 

The four articles presented here address only part of those activities described above. The article by Prof. Benjamin Means identifies issues particular to disputes among the controlling members of a family-run business organization. The piece by Prof. Kleinberger on “series” addresses the great uncertainties that arise with respect to this cutting-edge organizational form. Bob Keatinge addresses the various forms of agency authority that exist across business organizations and reminds us of important limitations and qualifications on those rules. My piece introduces an important distinction that is arising across the country with respect to the Unfinished Business Doctrine as traditionally applied upon the dissolution of law firms and other professional organizations. 

These are but a sampling of the types of issues upon which this Committee is focused. We hope you find them of interest and that, more importantly, they encourage your greater involvement both with this Committee and with the Business Law Section.

Additional Resources

For other materials on this topic, please refer to the following.

Business Law Section 2015 Spring Meeting Programs (The following programs are either sponsored or co-sponsored by the LLCs, Partnerships and Unincorporated Entities Committee) 

Series Captive Insurance Companies: Popularity and Pitfalls
Thursday, April 16, 2015: 8:30 AM - 10:00 AM 

Law Firm Bankruptcies and Dissolutions: Legal and Ethical Issues
Thursday, April 16, 2015: 10:30 AM - 12:30 PM 

The Crossroad of LLCs and Bankruptcy: A Treacherous Intersection
Thursday, April 16, 2015: 2:30 PM - 4:30 PM 

Annual LLC Case Law Update
Friday, April 17, 2015: 10:30 AM - 12:30 PM 

Business Law Today

Our Mini-Theme: Recent Topics from the 2013 LLC Institute
Dec. 2013 

ABA Web Store 

Model LLC Membership Interest Redemption Agreement (PDF Download)
The Model LLC Membership Interest Redemption Agreement explores and addresses issues that arise in the drafting of redemption agreements. It does not presuppose applicable redemption provisions in the operating agreement, so it conceives of the terms of this agreement being negotiated between the entity, the redeemed member, and possibly the remaining members.

Thomas E. Rutledge

Thomas E. Rutledge
Chair, LLCs, Partnerships and Unincorporated Entities Committee