• New California LLC Law May Significantly Impact Existing Operating Agreements
  • October 23, 2013 | Author: Allan B. Duboff
  • Law Firm: Loeb & Loeb LLP - Los Angeles Office
  • A new California law governing limited liability companies takes effect Jan. 1, 2014. This new law may adversely affect existing California limited liability companies by effectively rewriting the terms of their operating agreements. To avoid potential disputes among members and/or managers, the members of California limited liability companies should review - and where appropriate amend - their operating agreements.