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LLC Board: Powers, Duties, Liability & How They're Not Corporate (teleseminar)
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This program will provide you with a practical guide to the fiduciary duties and crafting LLC Boards of Managers.

When: 08/02/2017
1:00 PM to 2:00 PM
Where: United States
Contact: (404) 521-0781

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One-hour CLE programs are just a phone call away
Convenient, affordable, timely and informative
An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.


LLCs are creatures of contract, very flexible entities to meet the needs of individualized client circumstances.  Most statutory provisions governing LLCs can be modified by the entity’s operating agreement.  On this largely “blank slate,” members of an LLC often want to graft familiar concepts of corporate law such as a Boards of Managers to mimic a corporate Boards of Directors.  Though LLC statutes do not preclude the creation of these boards, LLC law is not based on the same concepts as corporate law and trying to recreate something that’s not native to the law is very difficult.  There are both the challenges of determining what the law allows and drafting roles, forms, and authority of these new boards. This program will provide you with a practical guide to the fiduciary duties and crafting LLC Boards of Managers.

Drafting for LLC Boards of Managers
How corporate boards fundamentally differ LLC boards
Fiduciary duties of managers in manager-managed LLCs and members in member-managed LLCs
Practical issues and problems of creating LLC boards 
Fiduciary issues – are LLC boards agents of members or independent actors?
Understanding the limits of what drafting can do to create boards


Allen Sparkman is a partner in the Houston, Fort Worth, and Denver offices of Sparkman Foote, LLP.  He has practiced law for over forty years in the areas of estate, tax, business, insurance, asset protection, and charitable giving.  He has written and lectured extensively on choice-of-entity, charitable giving and estate planning topics.  He is the Colorado reporter for the books "State Limited Partnership Laws" and "State Limited Liability Company Laws," both published by Aspen Law & Business and co-author of “Using Limited Liability Companies, Partnerships, and Limited Partnerships in Colorado,” publishing by CLE in Colorado, Inc.  Mr. Sparkman received his A.B. with honors from Princeton University and his J.D. with high honors from the University of Texas School of Law.


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