Last week, the Seventh Circuit Court of Appeals decided Doermer v. Callen, No. 15-3734 (7th Cir. Feb. 1, 2017), a case that illustrates and implicates several important aspects of Indiana nonprofit corporation law. Over the next few posts, we’ll explore some of the key aspects of the case and what…
Indiana nonprofit corporations are being converted to a new schedule for filing business entity reports with the Indiana Secretary of State. In the past, a business entity report has been due every year in the same month in which the organization was incorporated. Nonprofit corporations will now file business entity…
This is the last of eight articles on series LLCs and the new Indiana series LLC statute that will take effect on January 1, 2017. Earlier articles are: Part I, Basic concepts and terminology Part II, Is a series an entity? Part III, What constitutes a series? Part IV, Setting…
Earlier articles on the topic of Indiana series LLCs are here: Part I, Basic concepts and terminology Part II, Is a series an entity? Part III, What constitutes a series? Part IV, Setting up an Indiana series LLC Part V, Operating agreements for Indiana series LLCs Part VI, Alternatives for…
If you are not already familiar with series LLCs or with the new Indiana series LLC statute that takes effect on January 1, 2017, you may want to read the articles at Part I, Part II, Part III, Part IV, and Part V. In the first of these articles, I compared a series…
[The previous articles on this topic are here: Part I, Part II, Part III, Part IV.] Now that we’ve discussed the formal public filings necessary to set up a master LLC and series, we’ll turn out attention to the content of operating agreements. As mentioned in the last post, every…
The first article on series LLCs contained some basic concepts and terminology. The second and third ones addressed the fundamental questions of whether a series is a separate entity (answer: yes, but it lacks some of the attributes of a separate entity) and of what defines or constitutes a series (answer, at least as contemplated by…
[Please read Part I and Part II before reading this article.] The second of this group of articles on series limited liability companies addressed the question of whether a series is an entity under Indiana law and concluded that the best answer is probably, yes, even though it lacks some…
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[This is the second of several articles on series LLCs, especially Indiana series LLCs. Go here for Part I, which includes an introduction to the concept of series LLCs and some terminology.] Is a series an entity? That’s the question almost every lawyer asks when first introduced to series LLCs. It…