Illinois Limited Liability Company: Forms and Practice Manual
Prominent Illinois attorney, Robert C. Knuepfer, Jr., Esq., has drawn from his extensive experience to bring you strategies and forms for virtually every situation you may encounter in this two-volume Manual featuring a bonus CD with more than 185 electronic forms.
This extensive, updated manual, with its more than 1,150 pages of valuable content, will help you stay current and efficient by providing appropriate statutes and regulations – complemented by thorough discussions and analyses of any changing federal and Illinois state laws. Plus, you’ll be expertly guided through an extensive selection of appropriate LLC forms using an easy-to-follow format. Included are electronic customizable forms, and explanations and planning strategies for the LLC business structure.
Recent Updates Include:
The changes to the LLCA effected with passage of the 2012 omnibus bill, Public Act 97-0839:
- Section 50-10 establishes a “date certain” (last day of the third month preceding the anniversary month) for determining fees due for active series in connection with the filing of the annual report for a Series LLC.
- Clarifies definition of Articles of organization in section 1-5.
2013 saw these changes to the LLCA as another B.S. omnibus became Public Act 098-0171:
- Section 1.50 for service of process is amended to add reasonable diligence standard in place of certified/registered mailing and expand the basis for service on the Secretary of State.
- Simplifies and clarifies duration language of an LLC in Section 5-5.
- Clarifies Section 5-30 and effect of restated articles on prior articles and amendments.
- Clarifies and expands sections 30-25, 30-30, 45-35 and 45-36 administrative dissolution and revocation language and adds provisions for failure to respond to interrogatories and non-payment of fees.
- Cleans up principal office address language in section 45-5.
ROBERT C. KNUEPFER, JR. is the Senior Vice President, Leadership Development, Risk Management and General Counsel of The Hallstar Company, a privately held chemical manufacturer with global operations, as well as a member of the board of directors of Hallstar. He previously served as General Counsel to Turtle Wax, Inc., an international automotive appearance products company. He is a former senior partner of Baker & McKenzie LLP, a global law firm. Mr. Knuepfer is an adjunct professor at Northwestern University where he teaches project finance and international business transactions at Kellogg Graduate School of Management and the School of Law. Mr. Knuepfer retired as senior partner of Baker & McKenzie in 2014, and is past Chair of the Firm’s Europe & Middle East Practice Group, and former Managing Partner of the Budapest Office of Baker & McKenzie. He is recognized as a Leading Lawyer by several publications, including recent recognition as Illinois Corporate Lawyer of the Year. He received his JD and MBA degrees from Northwestern University, and a BA degree from Denison University (Phi Beta Kappa), and is admitted to practice before the Illinois Supreme Court, the US District Court (Trial Bar), the US Court of Appeals, and the US Supreme Court.
» View Full Table of Contents [PDF]
SUMMARY TABLE OF CONTENTS
PART I: ORGANIZATION
Chapter 1: Introduction
Chapter 2: Formation and Organization
PART II: OPERATIONS
Chapter 3: The Operating Agreement
Chapter 4: Organizations
Chapter 5: Limited Liability Company Capital
Chapter 6: Allocation and Distribution Provisions
Chapter 7: Management Provisions
Chapter 8: Transfer and Buy-Sell Provisions
Chapter 9: Dissolution
Chapter 10: Books, Records, and Accounting
PART III: MISCELLANEOUS
Chapter 11: Reorganization of the LLC
Chapter 12: Doing Interstate Business
Chapter 13: Professional LImited Liability Companies
Chapter 14: Miscellaneous Forms
Chapter 15: Compensation Strategies for teh LLC
PART IV: APPENDICES
PART V: LLP AND LLC CASES
PART VI: INDICES