Alert: Response and Resources for Coronavirus (Covid-19) Situation: Resources

In this ever evolving situation, Quinlivan and Hughes is committed to serving our clients in the same way we have always done. Technology has allowed us to continue operations and work remotely while keeping our clients needs at the top of the list. Below is a list of resources for you and please contact us personally with any questions. We look forward to helping you in this unprecedented time.

Law Change for LLCs in Minnesota Effective Jan. 1

| Nov 1, 2017 | Business & Employment, Firm News |


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The new Limited Liability Company Act goes into effect Jan. 1. Is your organization ready?

The new law, originally passed the Minnesota Legislature in 2015, may bring significant changes to governance and management, operating agreements, and other aspects of your business.

To avoid unintended consequences such as having membership interests voted as one vote per one member instead of based on the member’s ownership interest, a change to the company’s Operating Agreement will need to be made.

Two of the outcomes likely to occur under the new act unless specifically revised in the organization’s Operating Agreement include:

  • All members have an equal vote no matter how many membership units they own.
  • An Operating Agreement may be changed by oral agreement or by course of conduct unless prohibited to only being changed in writing by the Operating Agreement.

Learn more from the Minnesota Secretary of State.

Depending upon your circumstance, you may wish to consult with your attorney to ensure that your company is in compliance. Contact Ron Brandenburg to learn more.

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