In This Issue:

- Forming a Limited Liability Company

- Shelf LLCs

- Series LLCs

- Governance

- Members

- Operating Agreement

- Standards of Conduct

- Distributions

- Merger, Conversion and Domestication

- Judicial Dissolution, Buyouts and Oppression

- Indemnification and Advancement

- Personal Liability of Members

- Transition

- Considerations for Early Adoption

- Comparison of Statutes

- Excerpt from Forming a Limited Liability Company:

One or more persons (including corporations, partnerships, and other business entities) may act as organizers to form a limited liability company by signing and filing with the secretary of state articles of organization (322C.201). Under current Minnesota law, a limited liability company may only be organized by a natural person.