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LLC members

Oct 21, 2015

Protection of the Minority Oppression Statute Is Not Waivable

In the last year or so, I have seen several business owners who are not very happy that New Jersey LLC members now have the same protection from minority oppression that is enjoyed by minority shareholders of corporations. To “protect” against such lawsuits, apparently several attorneys around the state are advising clients to add to Operating Agreements a clause that waives this protection. » Read More

Feb 18, 2015

LLC Members Have Equal Rights as Corporate Shareholders When It Comes To Minority Owner Oppression

Many times a law is enacted, but a judge or appellate court makes a decision that casts the interpretation of that law into chaos. (Of course, none of the judges I regularly appear before would ever do this.) Almost one year ago, the New Jersey LLC Act was amended to give LLC members the minority owner oppression remedies historically applied to shareholders of a corporation. » Read More

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