Review Your LLC Documents Now
Starting in 2015, Minnesota completely changed the LLC laws. For companies that were organized prior to the change, it is essential that you review your LLC documents now. You should review your LLC documents in consultation with an experienced business attorney. You want to make certain that your documents under the old LLC law will not have unexpected consequences under the new LLC law. As of January 1, 2018, all LLCs were automatically transferred to the new law. One of the huge changes under the new law is that unless your LLC has an operating agreement stating the distribution of profits/losses...
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