Limited Liability Companies 2025 Edition

PRE-ORDER

This handbook presents attorneys with valuable information on how to advise clients when structuring and working with limited liability companies. It includes a comprehensive background on LLCs and why they are effective; extensive instruction on how to file Form LLC-5.5, Articles of Organization; considerations for tax and insolvency issues for LLCs; and a discussion on series LLCs. Sample forms include operating agreements for member-managed and single member LLCs, a pre-organization agreement, and a separate series agreement. The handbook also contains charts comparing forms of business operation and checklists for LLC organization, provisions for operating agreements, client issues in drafting LLC documents, and operating agreement fiduciary duty modification options.

Chapter 1 — Overview
Timothy S. Farber, Locke Lord LLP, Chicago

Chapter 2 — Introduction to and Background of Illinois Limited Liability Companies
Anthony J. Jacob, Hinshaw & Culbertson LLP, Chicago

Chapter 3 — Organizing an Illinois Limited Liability Company
James W. Dodge, Purdue University Global, Springfield

Chapter 4 — Limited Liability Company Operating Agreements
James W. Dodge, Purdue University Global, Springfield

Chapter 5 — Illinois Limited Liability Company Operating and Maintenance Issues
Timothy S. Farber, Locke Lord LLP, Chicago

Chapter 6 — Liability of Members and Managers in Limited Liability Companies, Including Breach of Fiduciary Duties
Charles W. Murdock, Loyola University School of Law, Chicago

Chapter 7 — Capital Structure and Membership Interests
John B. Waters, Roetzel & Andress, Chicago

Chapter 8 — Uses for Limited Liability Companies
Chad J. Richter, Mathis, Mariflan & Richter, Ltd, Edwardsville

Chapter 9 — Working with Limited Liability Companies
Kyle Fonjemie, Hinshaw & Culbertson LLP, Chicago

Chapter 10 — Tax Issues
Natalie M. Perry and Shawn McCullough, Harrison LLP, Chicago

Chapter 11 — Series Limited Liability Companies
Robert S. Held and Michael T. Held, Held Law Offices,Chicago

Chapter 12 — Insolvency Implications for the Limited Liability Company and Its Members
Mark A. Carter, Hinshaw & Culbertson LLP, Chicago