Once the LLC operating agreement has been established, can it be modified after the entity has been formed?
In this audio snippet, you'll hear about:
- Can be, but complications can arise
Audio Transcript
Travis:
And once that operating agreement has been established, can it be modified after the entity has been formed?
Yosef:
It can be. The complications arise as to what it requires in order to
be modified. There will generally be language in the original operating
agreement that will determine whether you need unanimous consent for a
modification in the LLC agreement, or whether majority approval is
sufficient.
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