1.0New York Business Divorcehttps://www.nybusinessdivorce.comPeter Mahlerhttps://www.nybusinessdivorce.com/author/pmahler/rich600338<blockquote class="wp-embedded-content"><a href="https://www.nybusinessdivorce.com/2014/02/articles/delaware/laurel-hill/">The Oral LLC Agreement: Boon or Bane?</a></blockquote> <script type='text/javascript'> <!--//--><![CDATA[//><!-- /*! This file is auto-generated */ !function(c,d){"use strict";var e=!1,n=!1;if(d.querySelector)if(c.addEventListener)e=!0;if(c.wp=c.wp||{},!c.wp.receiveEmbedMessage)if(c.wp.receiveEmbedMessage=function(e){var t=e.data;if(t)if(t.secret||t.message||t.value)if(!/[^a-zA-Z0-9]/.test(t.secret)){for(var r,a,i,s=d.querySelectorAll('iframe[data-secret="'+t.secret+'"]'),n=d.querySelectorAll('blockquote[data-secret="'+t.secret+'"]'),o=0;o<n.length;o++)n[o].style.display="none";for(o=0;o<s.length;o++)if(r=s[o],e.source===r.contentWindow){if(r.removeAttribute("style"),"height"===t.message){if(1e3<(i=parseInt(t.value,10)))i=1e3;else if(~~i<200)i=200;r.height=i}if("link"===t.message)if(a=d.createElement("a"),i=d.createElement("a"),a.href=r.getAttribute("src"),i.href=t.value,i.host===a.host)if(d.activeElement===r)c.top.location.href=t.value}}},e)c.addEventListener("message",c.wp.receiveEmbedMessage,!1),d.addEventListener("DOMContentLoaded",t,!1),c.addEventListener("load",t,!1);function t(){if(!n){n=!0;for(var e,t,r=-1!==navigator.appVersion.indexOf("MSIE 10"),a=!!navigator.userAgent.match(/Trident.*rv:11\./),i=d.querySelectorAll("iframe.wp-embedded-content"),s=0;s<i.length;s++){if(!(e=i[s]).getAttribute("data-secret"))t=Math.random().toString(36).substr(2,10),e.src+="#?secret="+t,e.setAttribute("data-secret",t);if(r||a)(t=e.cloneNode(!0)).removeAttribute("security"),e.parentNode.replaceChild(t,e)}}}}(window,document); //--><!]]> </script><iframe sandbox="allow-scripts" security="restricted" src="https://www.nybusinessdivorce.com/2014/02/articles/delaware/laurel-hill/embed/" width="600" height="338" title="“The Oral LLC Agreement: Boon or Bane?” — New York Business Divorce" frameborder="0" marginwidth="0" marginheight="0" scrolling="no" class="wp-embedded-content"></iframe>Unlike many states including Delaware, whose statutes authorize oral LLC agreements, New York's LLC Law mandates a written operating agreement. A recent decision by the Appellate Division, First Department, permitting a claim based on an alleged oral LLC agreement to go forward, prompts examination of the pros and cons of oral LLC agreements, in this week's New York Business Divorce.https://nybusinessdivorce.lexblogplatform.com/wp-content/uploads/sites/94/2014/02/Handshake-1.png