12701 Marblestone Drive
Suite 350
Woodbridge, Virginia 22192-8307
Phone: (703) 583-6060
Fax: (703) 583-6066
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Feature Articles
- LLCs - Why You Need an Operating Agreement
- article
- Jul 12, 2009
- Whether you are in the process of forming a Virginia limited liability company (or “LLC”) or operating your business as an LLC, you need to have an “operating agreement”, which is a written contractual document which sets forth the financial rights, obligations and duties of the members in an effort to reduce the possibility of future disputes. What you may not know however, are the possible scenarios members could face if the LLC does not have an operating agreement or if the agreement does not adequately plan for unexpected circumstances. Unfortunately, Virginia law does not require an operating agreement and many people form LLCs without a written operating agreement.
Compton & Duling LC
Parkway East at County Center
12701 Marblestone Drive
Suite 350
Woodbridge, Virginia 22192-8307
Phone: (703) 583-6060
Fax: (703) 583-6066
12701 Marblestone Drive
Suite 350
Woodbridge, Virginia 22192-8307
Phone: (703) 583-6060
Fax: (703) 583-6066
Our attorneys provide legal services throughout Northern Virginia, including Prince William, Stafford, Fairfax and Arlington Counties and the cities of Manassas, Manassas Park, Fairfax, Alexandria, Woodbridge and Fredericksburg
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DISCLAIMER: THE OUTCOME OF ANY CASE WILL DEPEND UPON A VARIETY OF FACTORS UNIQUE TO EACH CASE. CASE RESULTS REPRESENTED HEREIN DO NOT GUARANTEE OR PREDICT A SIMILAR RESULT IN ANY FUTURE CASE UNDERTAKEN BY THE LAWYER.