SINCE 1974
Accordingly, the Certificate of Formation and Operating Agreement for this type of LLC will generally have a long list of restrictions on the company that are copied from loan documents. Significantly, CMBS lenders do not rely on having these provisions in the loan documents but require them in the company’s organizational documents, perhaps to emphasize […]
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The following morning, I boarded an early flight to Puerto Rico to finish my last week of training and compete in the Puerto Rican qualifying regatta. After about 16 hours of travel (including a missed connection in Miami), I arrived in Puerto Rico. Although I now live in Philadelphia, I felt at home and back […]
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Generally speaking, the sooner you incorporate, the better. The liability shield is not created until the company is incorporated. You may have what is called “promoter” liability (personal liability) for pre-incorporation obligations, even if those are ratified by the subsequently incorporated entity. With that said, end of the year incorporating is another issue. Should you […]
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Dear Customer, Speaking strictly to Delaware law, we can assure you that the registered agent should not (and will not) sign your LLC Agreement. Sometimes banks want to establish a “bridge” between the formation document and the initial members or managers. Because Delaware does not require you to list the names of members or managers […]
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Dear Customer, A Delaware company can be operated from any state within the United States. The question is whether you will need to file with New York as a “foreign” company. The answer is it depends on your activities. This is what is typically referred to as Foreign Qualification. In this context, “foreign” does not […]
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