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    Court: Operating Agreement Did Not Grant Terminated Employees Lifetime Jobs

    An employment agreement is one thing and an operating agreement quite another.  In ITV Gurney Holding Inc. v. Gurney, Cal. Ct. Appeal Case No. B281694, the board of a limited liability company fired two employees who were also managers.  The two...

    Limited Liability Companies, employees, ITV Gurney Holding Inc. v. Gurney, operating agreement

    The Limited Liability Company Agreement That Has No Name

    Practitioners under California's Revised Uniform Limited Liability Company Act will be familiar with the concept of an "operating agreement" (Cal. Corp. Code § 17701.02(s)).  Indeed, I expect that nearly every LLC formed under the CARULLCA has, or...

    Limited Liability Companies, llc, operating agreement, 2015 U.S. Dist. LEXIS 187188, CARULLCA, Hullinger v. Anand, members, Section 17704.01