{"id":1045,"date":"2017-12-27T19:34:32","date_gmt":"2017-12-28T00:34:32","guid":{"rendered":"https:\/\/businesslaw.smithrayl.com\/blog\/?p=1045"},"modified":"2023-11-28T13:36:49","modified_gmt":"2023-11-28T18:36:49","slug":"maintaining-indiana-limited-liability-companies-part","status":"publish","type":"post","link":"https:\/\/www.hpindiana.law\/business-blog\/maintaining-indiana-limited-liability-companies-part\/","title":{"rendered":"Maintaining Indiana Limited Liability Companies:  Part I Statutory Requirements"},"content":{"rendered":"<p>Compared with corporations, limited liability companies are generally low maintenance, but not entirely maintenance free. A few requirements are imposed by statute, and the operating agreement may or may not create some additional formalities that must be observed. In addition, there are good practices that, in addition to observing the required formalities, help preserve the liability shield that protects the owners\u2019 assets from creditors of the LLCs (or the &#8220;corporate veil&#8221;). Part I addresses the statutory requirements and the types of requirements that are sometimes found in operating agreements; <a href=\"https:\/\/www.hpindiana.law\/business-blog\/maintaining-indiana-llcs-part-ii-best-governance-practices\" target=\"_blank\" rel=\"noopener noreferrer\">Part II<\/a> will address some best practices.<\/p>\n<p>NOTE:\u00a0 This post and <a href=\"https:\/\/www.hpindiana.law\/business-blog\/maintaining-indiana-llcs-part-ii-best-governance-practices\" target=\"_blank\" rel=\"noopener noreferrer\">Part II<\/a> address only the requirements and best practices related to &#8220;corporate&#8221; governance, particularly those that are relevant to preserving the corporate veil.\u00a0 For any particular LLC, there may be a myriad of other legal requirements and best practices related to other areas, such as employer-employee relationships and permits or licenses that are necessary to conduct the LLC&#8217;s business, that are not addressed here.<\/p>\n<p style=\"text-align: center;\"><strong>Statutory Formalities<\/strong><\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.hpindiana.law\/business-blog\/maintaining-indiana-limited-liability-companies-part\/\"  title=\"Continue Reading Maintaining Indiana Limited Liability Companies:  Part I Statutory Requirements\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Part I of the discussion of maintenance of Indiana limited liability companies discusses statutory requirements and some formalities that may be imposed by operating agreements.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,1],"tags":[],"class_list":["post-1045","post","type-post","status-publish","format-standard","hentry","category-limited-liability-companies","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Maintaining Indiana Limited Liability Companies: Part I Statutory Requirements &#8212; Indiana Business Law Blog &#8212; December 27, 2017<\/title>\n<meta name=\"description\" content=\"Part I of the discussion of maintenance of Indiana limited liability companies discusses statutory requirements and some formalities that may be imposed by operating agreements. &#8212; December 27, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hpindiana.law\/business-blog\/maintaining-indiana-limited-liability-companies-part\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Michael R. Smith\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Maintaining Indiana Limited Liability Companies: Part I Statutory Requirements &#8212; Indiana Business Law Blog &#8212; December 27, 2017","description":"Part I of the discussion of maintenance of Indiana limited liability companies discusses statutory requirements and some formalities that may be imposed by operating agreements. &#8212; December 27, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hpindiana.law\/business-blog\/maintaining-indiana-limited-liability-companies-part\/","twitter_misc":{"Written by":"Michael R. 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