Forming and Organizing an LLC (NY)
A Practice Note providing guidance on the legal and practical issues involved in forming and organizing a New York limited liability company (LLC) under the New York Limited Liability Company Law (NY LLCL). It addresses drafting and filing the articles of organization, New York's publication requirement, and the adoption of a written operating agreement. This Note explores topics for inclusion in the operating agreement, such as management structure, capital contributions, profit and loss allocations, and transferability of membership interests. It also covers post-formation matters including record-keeping, raising capital, and employee considerations.
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