101 del Acuerdo de la LLC
Filed Under: Blog Posts in Spanish, Limited Liability Company
Tags: Limited Liability Company, LLC Agreement, Spanish
La asamblea legislativa de Delaware creo la forma de la entidad de negocio de la LLC para dar el máximo efecto de libertad de contracto entre los miembros dependiendo de las condiciones que ellos crean mejor para sus circunstancias y metas. En una corporación, por ejemplo, la ley de Delaware requiere que ciertos términos sean incluidos en los documentos constitutivos de la corporación, impone ciertas provisiones relacionado al gobierno corporativo y limita (a cierto punto) la habilidad de los miembros para modificar ciertas condiciones relacionadas a la obligación fiduciaria o de votación, entre otras cosas. Sin embargo, en una LLC, los miembros están libres de organizar la LLC de cualquier manera ellos escojan, con cierta libertad total para definir la relación entre los miembros y los términos que gobiernan la operación de la entidad. Las condiciones fundamentales del propietario, la operación y la gerencia de una LLC están determinadas en el Acuerdo de la LLC.
Un acuerdo de la LLC puede ser un documento escrito o un entendimiento hablado. Sin embargo, por lo general, un acuerdo escrito esta usado dado a que observe el entendimiento y los acuerdos de los miembros, por la cual en el evento de una discusión o mal entendimiento (o la posibilidad de un litigio), es una protección invaluable del interés de todos los miembros involucrados. Aunque cada acuerdo de LLC es diferente, un acuerdo de LLC generalmente incluye ciertas condiciones fundamentales como:
- El porcentaje de propiedad de cada socio/miembro
- La manera en que la ganancias, pérdidas y gastos están asignados
- La autoridad de los socios de unir la LLC y participar en la administración de a día
- Los derechos de votar de cada socio en los momentos de tomar decisiones claves
- Las circunstancias en las que un socio puede abandonar la LLC y la manera en que los intereses económicos del socios están calculados en el momento del abandono
- La habilidad de un socio de vender o prometer su interés a una tercera persona
- Términos contemplando el fallecimiento o discapacidad de un socio
- Las circunstancias y términos para la admisión de nuevos miembros
- Las circunstancias en las que la LLC pueda ser liquidada y la prioridad de los reclamos entre los socios en el momento de la liquidación.
- Derechos de indemnización (si existen) en caso de que la LLC o los socios sean demandados en conexión con los negocios de la LLC.
Delaware no requiere el registro ni la publicación del acuerdo operativo de la LLC. Generalmente, una LLC de Delaware está constituida de forma anónima por el registro del Certificado de Formación con el estado que incluye solamente el nombre de la LLC y la oficina del representante (agente) autorizado (Harvard Business Services). Esto es todo!!!
Harvard Business Services, Inc le puede asistir en formar su LLC y tenemos muchos tipos de acuerdos de LLC que se pueden usar como están o le pueden servir como buen lugar donde empezar a desarrollar sus propias condiciones y provisiones. Nos pueden llamar al 800-345-2677 Nos haría felices, darle más información.
To read the English version of this blog post, click HERE.
Estate Planning with a Delaware LLC
Filed Under: Delaware, Limited Liability Company
Tags: Limited Liability Company, LLC Agreement
In an LLC, the members are free to organize the LLC in whatever manner they choose, with near-total freedom to define the relationship among the members and the terms governing the operation of the entity. The fundamental terms of an LLC’s ownership, operation and management are set forth in its LLC agreement. The LLC agreement has been a popular topic in many other blog postings. This posting will focus on the LLC’s potential as an estate planning tool, highlighting just how flexible the Delaware LLC can be!!!
The LLC agreement not only governs terms such as sharing of income and liabilities, it also sets forth the terms governing the liquidation of the entity and the replacement of members. An LLC does not have a fixed life term, and can remain in existence, even after the death of one or more members. A carefully drafted LLC Agreement can help to ensure a smooth transition of control after the death of a key member, making the LLC an attractive vehicle for family estate planning. The LLC agreement will allow control over the LLC, its assets and/or its business to be passed along to surviving family members.
Here is how it works.
-The initial members, which are often the grandparents, will form and file the LLC and appoint themselves as Class A member internally within the LLC agreement. These Class A members have all the rights and responsibility to manage the assets of the LLC.
-The Class B members are often the offspring of the grandparents; these family members initially have no responsibility or rights in the LLC. When all the Class A Members have passed, these Class B members will become the Class A members, granting them all the rights and privileges associated with the Class A member status.
-The Class C members , which are typically the grandchildren, are a dormant class Class C members have no responsibility or rights in the LLC until the passing of both the Class A and Class B members. New classes of member interests can be established at any time, so the Class B or Class C members can, when they ultimately obtain control over the LLC, create additional classes to continue the chain of ownership and control over the LLC to even more distant generations.
It is important to remember that an LLC Agreement is not filed or otherwise provided to the State of Delaware, and is not available for public inspection or part of the public record. Thus, the confidentiality of family affairs is maintained.
Structures such as these can be used for holding of real estate, passing along of a family business or any large asset. The structure allows the family business/asset to be transferred from one generation to another, in theory, forever!!! The long and costly procedures associated with probate and interpretation and implementation of wills can be avoided, allowing for a quick and seamless transition in the event of a passing.
This structure is an example of how flexible the Delaware LLC can be while providing the members’ freedom of contract with one another upon whatever terms they deem best suited to their circumstances and goals.
Delaware LLC Agreements – Get it in Writing!
Filed Under: INC Knowledge, Limited Liability Company
Tags: Limited Liability Company, LLC Agreement
Back in October, 2009 we discussed how the LLC is owned, operated and maintained in a post titled 101 on an LLC Agreement. Many clients have come to us with questions and are curious about the fact that Delaware LLC law provides for an oral LLC agreement.
The Delaware Supreme Court recently issued a decision that effectively requires all limited liability company agreements (“LLC Agreements”) for Delaware LLCs to be in writing. The decision holds that LLC Agreements are subject to Delaware’s Statute of Frauds, which requires certain types of contracts to be in writing in order to be enforceable. This decision appears to contradict the express language of Section 18-101 of the Delaware Limited Liability Company Act (the “Act”), which states that a limited liability company agreement may be “written, oral or implied”
Although clients typically commit an agreement to writing, some small or relatively newly formed LLCs operate pursuant to an oral understanding or implied course of dealing among the members. For example, members of an LLC may have orally agreed upon or may have simply accepted over time a certain distribution of profits and losses, or assumed that voting rights were distributed among the members in a certain way.
A member seeking to assert his or her rights in court, however, could not rely upon the oral agreement or implied understanding as an LLC Agreement governing the operations of the entity, despite the language of the Act.
This decision reinforces the importance of putting an LLC Agreement in writing as early as possible, and having all members sign the agreement. Business partners or investors in the first stages of an exciting business opportunity often do not foresee (or do not consider) the possibility of a later disagreement and the potential need to assert their respective rights, but putting the terms governing the operations of an LLC in writing at an early stage protects the interests of everyone involved.
