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What doctrine is applicable for LLC?

The corporate doctrines ap- plicable to limited liability companies might include the corporate trust fund doctrine, the doctrine of piercing the corporate veil, the business judgment rule, and the doctrines governing oppression of minority shareholders.

Is an Operating Agreement required for an LLC in New York?

Yes, New York is one of the few states that requires LLCs to adopt an Operating Agreement. This document should be filed internally at your office around the time you file your Articles of Organization. You have up to 90 days after you file these articles for your membership to approve your Operating Agreement.

What is a TR 570?

An LLC LLP Request for Information (TR-570) is issued by the New York Department of Finance. If you have received one of these notices, you have already gone through part of the process of organizing your business as either an LLC or an LLP.

Does New York require corporate bylaws?

Corporate bylaws are legally required in New York. According to NY Bus Corp L 601, corporate bylaws shall be adopted by an organizations incorporator(s) at the initial organizational meeting. That means that in New York, youll need to adopt bylaws to comply with the law.