A Practical Guide to Massachusetts Limited Liability Companies covers the full spectrum of issues surrounding LLCs. Beginning with tax classification and choice of entity issues, it offers advice on the advantages and disadvantages of LLC status; a view from the Secretary of the Commonwealth's office; how to draft an LLC operating agreement; the rights and duties of members and managers; issues concerning the conversion, merger, or dissolution of a limited liability entity; and more. Written by some of the most respected business lawyers in the Commonwealth, A Practical Guide to Massachusetts Limited Liability Companies is the definitive source for practical advice on LLCs in Massachusetts.Best Practices, Expert Advice
Table of Contents
Chapter 01 - IntroductionPeter M. Rosenblum, Esq.,
Foley Hoag LLP
Chapter 02 - Classification of the LLC Under Tax Law
Nicholas V. Romanos, Esq.,
Foley Hoag LLP
Chapter 03 - Choice of Entity
Michael E. Mooney, Esq.,
Nutter McClennen & Fish LLP
David A. Parke, Esq.,
Bulkley, Richardson and Gelinas LLP
Chapter 04 - Forming an LLC and Drafting the Operating Agreement
Francesca O. Considine,
Nutter McClennen & Fish LLP
Portia S. Keady, Esq.,
Nutter McClennen & Fish LLP
Christopher S. McLoon, Esq.,
Cozen & O'Connor
Exhibit 4A - Partnership Example LLC
Exhibit 4B - Corporate Model LLC
Exhibit 4C - Shortform Associates LLC
Exhibit 4D - Initial LLC
Exhibit 4E - Default Provisions in the Massachusetts Limited Liability Company Act (G.L. c. 156C)
Exhibit 4F - Mandatory Provisions in the Massachusetts Limited Liability Company Act (G.L. c. 156C)
Exhibit 4G - Provisions in the Massachusetts Limited Liability Company Act (G.L. c. 156C) Requiring a Writing
Chapter 05 - Operating the LLC
Philip S. Lotane, Esq.,
Venture Advisors Legal LLC
Checklist 5.1 - Summary of the Rights and Duties of Assignors and Assignees of LLC Interests
Exhibit 5A - Form of Agreement to Transfer LLC Membership Interest
Chapter 06 - Buy-Sell Agreements and Other Transfers of Interests in LLCs
Michael E. Mooney, Esq.,
Nutter McClennen & Fish LLP
Exhibit 6A - Transfer of LLC Interests: Summary of Tax Consequences
Exhibit 6B - Sample Operating Agreement 1: Mandatory Liquidation Clause Favoring Continuing Members
Exhibit 6C - Sample Operating Agreement 2: Mandatory Liquidation Clause Favoring Withdrawing Member
Exhibit 6D - Sample Operating Agreement 3: Mandatory Liquidation Clause Bifurcating Tax Treatment
Exhibit 6E - Sample Operating Agreement 4: Right of First Refusal with Tax Classification
Exhibit 6F - Payments in Liquidation of a Member’s LLC Interest - Ordinary or Capital
Chapter 07 - Entity Transfer Actions: Conversions of Existing Entities and Mergers; Dissolutions
Erin Meredith Klein, Esq.,
Foley Hoag LLP
Nicholas V. Romanos, Esq.,
Foley Hoag LLP
Chapter 08 - Interstate Business by LLCs
Marissa N. Soto-Ortiz, Esq.,
Office of the Secretary of the Commonwealth
Chapter 09 - Creative Uses of LLCs
Peter M. Rosenblum, Esq.,
Foley Hoag LLP
Chapter 10 - The View from the Secretary of the Commonwealth’s Office
Marissa N. Soto-Ortiz, Esq.,
Office of the Secretary of the Commonwealth
Checklist 10.1 - Items to Be Included in a Certificate of Organization for a Domestic LLC
Checklist 10.2 - Practical Tips for Handling the Formation of an LLC
Checklist 10.3 - Items to Be Included in an LLC Certificate of Merger or Consolidation
Chapter 11 - Limited Liability Entities for Professionals
Michael J. Bohnen, Esq.,
Nutter McClennen & Fish LLP
Appendix
Appendix A - Comparison of Delaware and Massachusetts Limited Liability Company Statutes
Appendix B - Choice of Business Entity
Appendix C - Chart Summarizing Choice of Entity Factors
Appendix D - Outline: Organizing, Operating, and Terminating an LLC
Appendix E - Launching and Advising Limited Partnerships
Appendix F - Limited Liability Company Hypothetical
Authors
Editor(s)Peter M. Rosenblum, Esq.,
Foley Hoag LLP, Boston
Author(s)
Michael J. Bohnen, Esq.,
Nutter McClennen & Fish LLP, Boston
Francesca O. Considine,
Nutter McClennen & Fish LLP, Boston
Portia S. Keady, Esq.,
Nutter McClennen & Fish LLP, Boston
Erin Meredith Klein, Esq.,
Foley Hoag LLP, Boston
Philip S. Lotane, Esq.,
Venture Advisors Legal LLC, Concord
Christopher S. McLoon, Esq.,
Cozen & O'Connor, Washington
Michael E. Mooney, Esq.,
Nutter McClennen & Fish LLP, Boston
David A. Parke, Esq.,
Bulkley, Richardson and Gelinas LLP, Springfield
Nicholas V. Romanos, Esq.,
Foley Hoag LLP, Boston
Peter M. Rosenblum, Esq.,
Foley Hoag LLP, Boston
Marissa N. Soto-Ortiz, Esq.,
Office of the Secretary of the Commonwealth, Boston
