Having a good operating agreement can be the difference between success and failure in business. A badly drafted one can lead to disputes, unforeseen tax liabilities, and business turmoil, says lawyer Victor S. Elgort, a senior member of Bridgewater-based law firm of Norris McLaughlin & Marcus. Business leaders count on their lawyers to make sure these entanglements never happen.
Elgort will teach a course for lawyers, paralegals, and accountants on the ins and outs of drafting a solid LLC operating agreement on Monday, December 19, from 9 a.m. to 4:30 p.m. at the Courtyard by Marriott on Route 1 South near Mapleton Road. Tickets are $349. For more information, visit www.nbi-sems.com.
Elgort, who is chair of his firm’s tax group, will speak on “Tax Mistakes Made in Distribution, Allocation and Entity Selection” and “Transfer Restriction Issues, Right of First Refusal, Impasse (Put/Call), Capital Call, and Dissolution Provisions.”
Elgort organized and created the first limited liability company in New Jersey. He has written the standard form operating agreements and other documents for limited liability companies published by Julius Blumberg Inc., including both the forms for use in New Jersey and the generic forms offered nationwide for limited liability companies. He is a graduate of Rutgers, with a law degree from Cornell.