When there's only one member in the LLC, the line between corporate and personal affairs tends to get blurry, which translates to big risks for the entity's limited liability shield. A strong operating agreement is essential to liability protection because it establishes the SMLLC's separate and distinct legal identity. And the benefits don't stop there - a good SMLLC operating agreement can win favor from lenders, spell out a succession plan, and set business rules that make a big impact for your client. Learn how to get the most out of your SMLLC operating agreements - order today!
JAMES A. BORCHERS is the founder of InNovare Law LC, where his practice focuses on small business, commercial transactions, real estate, franchising, and estate planning. Mr. Borchers has taught limited liability company issues and drafting for The Missouri Bar and National Business Institute. He also teaches classes at the St. Charles Community College on starting your own business and serves as a mentor for various entrepreneur communities in the St. Louis area. He is dedicated to helping attorneys recognize that LLCs are not corporations in LLC clothing. Mr. Borchers is active in various American Bar Association and The Missouri Bar committees relating to small business and estate planning. He earned his B.A. degree from Valparaiso University, his J.D. degree from Gonzaga University, and his LL.M. degree in taxation from Washington University St. Louis.
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