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Richard, Attorney
Category: Business Law
Satisfied Customers: 55715
Experience:  32 years of experience practicing law and a businessman.
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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: 1 year ago.
Category: Business Law
Expert:  Richard replied 1 year ago.
You can simply delete Section 10.1(e).