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how long to draft llc agreement?
| talented love of her life giraffe | 02/21/18 |
| cerebral brethren | 02/21/18 |
| talented love of her life giraffe | 02/21/18 |
| cerebral brethren | 02/21/18 |
| talented love of her life giraffe | 02/21/18 |
| cerebral brethren | 02/21/18 |
| Charismatic Buck-toothed Coffee Pot | 02/21/18 |
| cerebral brethren | 02/21/18 |
| claret fat ankles | 02/21/18 |
| Charismatic Buck-toothed Coffee Pot | 02/21/18 |
| histrionic knife ladyboy | 02/21/18 |
| talented love of her life giraffe | 02/21/18 |
Poast new message in this thread
Date: February 21st, 2018 10:07 PM Author: talented love of her life giraffe (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457206) |
Date: February 21st, 2018 10:11 PM Author: cerebral brethren Depends upon the bells and whistles and how long it's taking you to find precedent for them. 8 sounds reasonable for the first draft, I guess. More if the bells and whistles are complicated. Just make sure you're clear that your estimate doesn't include 3 turns of it, calls with them, etc.
Edit: This presumes that you're comfortable not looking up the 50 code references and trying to figure out wtf they all mean and if they're correct. |
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Date: February 21st, 2018 10:24 PM Author: talented love of her life giraffe (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457325) |
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Date: February 21st, 2018 10:37 PM Author: cerebral brethren Not sure what the DGCL compliance part is either -- seems like an odd ask. I'd probably just do normal DD: Make sure it's clear what officers and directors have been appointed and that there aren't stray appointments, a share trace to make sure that the numbers match and that issuances have been approved, that the bylaws were actually adopted, that amendments to the charter were actually approved (and in the right order), make sure minutes and consents are signed, make sure any D&O indemnification agreements were approved by the stockholders, etc. Good chance to make sure that the records are clean and to ratify anything necessary before someone else finds it, I guess. Part of me would wonder if they know that the records are a mess. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457460) |
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Date: February 21st, 2018 10:44 PM Author: talented love of her life giraffe This is really awesome of you, thanks. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457537) |
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Date: February 21st, 2018 11:05 PM Author: cerebral brethren No problem. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457734) |
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Date: February 21st, 2018 10:54 PM Author: Charismatic Buck-toothed Coffee Pot don’t know why indemnification needs to be approved by stockholders. d&o indemnification is provided for in the code, but again dgcl does not apply to llc. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457624) |
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Date: February 21st, 2018 11:04 PM Author: cerebral brethren I think he was talking about a corp there -- different from the LLC agreement assignment. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457727) |
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Date: February 21st, 2018 10:46 PM Author: claret fat ankles On the DGCL, I can't think of anything that would be a big deal except for unauthorized share issuances. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457552) |
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Date: February 21st, 2018 10:49 PM Author: Charismatic Buck-toothed Coffee Pot if it is an llc, the dgcl does not apply. with few restrictions the actual llc agreement governs over the delaware llc act. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457576) |
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Date: February 21st, 2018 10:53 PM Author: histrionic knife ladyboy Is it a series LLC? I used to prepare LLC operating agreements when I was a hedgs atty. If you have the right precedent and not too complicated, then 4 to 5 hours max. If super easy, can prbly do it in 2 hours. (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457618) |
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Date: February 21st, 2018 11:02 PM Author: talented love of her life giraffe (http://www.autoadmit.com/thread.php?thread_id=3900020&forum_id=2#35457708) |