How to Draft and LLC Operating Agreement
Saturday, January 14
How to Draft and LLC Operating Agreement The LLC, or Limited Liability Company, is a unique business entity that has many financial and social benefits. Falling somewhere between a general partnership and a more formal corporation, the LLC creates a layer of protection for individual members an...
Do it Yourself Pitfalls
Tuesday, July 26
The limited liability company (LLC) generates a great deal of interest because it offers some significant benefits. First, like a corporation, liability is limited to the business in most cases, leaving individual members immune from suit. But, unlike a corporation, an LLC can be run relatively...
Member Managed v Manager Managed LLCs and succession planning
Tuesday, May 17
So you are ready to start your own business? Great! Choosing the right management structure when forming your LLC is paramount. When forming a Texas LLC, you will have the option to form a Member Managed LLC or a Manager Managed LLC. One perk of forming an LLC as a Manager Managed LLC rather tha...
Security Deposit Liability in Texas
Wednesday, May 11
Who is liable for security and pet deposits when a Landlord acquires a new investment property where tenants are already in place? The Texas Property Code states that a new property owner is: (1) liable for these deposits when they acquire the property, (2) required to deliver to the tenant a sig...