Allocating Voting and Economic Rights in LLCs: An Invitation to Confusion (Part II)
5 Pages Posted: 24 Apr 2014
Date Written: April 22, 2014
Abstract
Part I of this article explored how the default provisions for the allocation of economic and voting rights as set forth in the various LLC Acts are either insufficient or ineffective in common fact situations; to that extent, the acts are themselves deficient. Part II endeavors to apply those same state law rules to those applicable to the capital account rules of the Internal Revenue Code (the "Code"). From that perspective, it becomes even more apparent that the default rules of the various LLC Acts fail to provide workable rules for any but the most simple and most static LLCs.
Suggested Citation: Suggested Citation
Rutledge, Thomas E., Allocating Voting and Economic Rights in LLCs: An Invitation to Confusion (Part II) (April 22, 2014). Journal of Passthrough Entities, March-April 2014, Available at SSRN: https://ssrn.com/abstract=2427765
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