How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
Richard
Richard, Attorney
Category: Business Law
Satisfied Customers: 53972
Experience:  32 years of experience practicing law and a businessman.
17027240
Type Your Business Law Question Here...
Richard is online now
A new question is answered every 9 seconds

Richard, we spoke yesterday about an operating

Customer Question

Hello Richard, we spoke yesterday about an operating agreement and I sent it to the title company. This is the response I was given today in regards ***** ***** operating agreement, "Alexandra,Section 5.7 does provide the manager with the authority to bind the LLC. However, Section 10.1 (e) provides that the manager cannot convey property that is not in the ordinary course of business. Not knowing whether this subject property is the only asset of the LLC, it is prudent to obtain Jean’s signature on the LLC resolution.Therefore, I will need the resolution signed for closing.Thank You.
Submitted: 7 months ago.
Category: Business Law
Expert:  Richard replied 7 months ago.
You can simply delete Section 10.1(e).

Related Business Law Questions