In-Person Replay Seminar
ITEM #:  1530352001   |   EVENT CODE:  282234    |   CREDIT STATUS:  APPROVED


Wednesday, January 29, 2020

9:00 AM - 4:30 PM   |   Check-In:  8:30 AM

Minnesota CLE Conference Center

600 Nicollet Mall # 370

3rd Floor, City Center

Minneapolis, MN 55402

Minnesota LLCs – 2020 Update & Hot Topics

Practical Lessons Post Implementation of Minnesota’s Revised Uniform Limited Liability Company Act

Topics include:

  • Helping Clients Understand Management Structure, Member Rights, and Manager Duties
  • How to Draft Organizational Documents
  • Key Tax Issues to Consider in LLC Entity Selection
  • Solving Debtor-Creditor Issues Involving LLCs and Members
  • And much more!

Business attorneys, general practitioners and business litigators – don't miss this essential course with helpful how-to’s and best practices for advising your clients on LLCs!

Special Bonus for Attendees:
In addition to the excellent course book, all attendees will receive a Sample Annotated Board-Member Managed Operating Agreement!

Schedule times below are for the live seminar. Please refer to DATES & LOCATIONS for individual replay start times.

8:30 – 8:55 a.m.

8:55 – 9:00 a.m.

9:00 – 9:30 a.m.
An Overview and Current Status of the New LLC Act – with Practical Insight from the Office of the Minnesota Secretary of State
Bibi Black, Legal Advisor to the Office of the Secretary of State, will give you practical insight into what the Office is seeing after more than two years operating fully under the “new” LLC Act, and what practitioners can do to successfully get their clients through the Office.
– Bibi Black

9:30 – 10:15 a.m.
Helping Clients Understand Management Structure, Member Rights, Manager Duties
Topics will include: rights of minority owners, transfer of membership interests, rights of transferees and creditors, and dissociation, dissolution and winding up. Written materials will include a Checklist of Management Selection Considerations.
– Abigail A. Pettit

10:15 – 10:30 a.m.

10:30 – 11:30 a.m.
Drafting the Essential Documents Under the New LLC Act – Operating Agreements 2.0
Now that two years have passed since the full implementation of Minnesota’s new LLC Act, there are more informed considerations for how the law functions on a practical level – especially with regard to what gets included in operating agreements. Attendees will receive – and the presenters will review – a sample annotated Operating Agreement for Board-Managed LLCs (with annotations applicable to Member Managed and Manager-Managed LLCs).
– Allison M. Plunkett

11:30 a.m. – 12:30 p.m.
Tax Issues to Consider in Entity Selection
LLCs taxed as partnerships are subject to tax rules that can be quite complicated. This presentation will address several key issues that should be considered when creating a LLC.
– Andrew G. Seifert

12:30 – 1:30 p.m.
LUNCH (join another attendee!)

1:30 – 2:30 p.m.
LLCs v. Corporations: What Are the Differences Between LLCs and Corporations, and What Difference Do the Differences Make?
This session will address (i) material differences between LLCs and corporations and the consequences of ignoring the differences; (ii) noteworthy characteristics which LLCs and corporations actually do have in common; and (iii) pros and cons of importing corporate constructs into an operating agreement.
– Daniel S. Kleinberger 

2:30 – 3:15 p.m.
Solving Debtor-Creditor Issues Involving LLCs and Members
This session will address the treatment of LLC interests in bankruptcy, charging orders, and other creditors’ remedies with respect to membership interests in LLCs.
– Anthony D. Todero

3:15 – 3:30 p.m.

3:30 – 4:00 p.m.
Protected Series – Shell Game or Significant Break Through?
A protected series LLC is an emerging choice of business structure, popular for a variety of business and planning uses – but not without significant complexity. This session will answer key questions: What is a protected series LLC? Why are there more than 30,000 in Illinois alone? Why has the Uniform Law Commission adopted a uniform act? Who invented the construct? Why? Is it accurate that a “series LLC” may create internal “corrals” of activities (called “protected series”) and make them separate and distinct from each other and the LLC for purposes of liability to creditors but unable to exist separately “outside” the LLC? Will protected series work in Minnesota? And more.
– Daniel S. Kleinberger

4:00 – 4:30 p.m.
Panel Discussion and Q&A: LLC Potpourri
– Abigail A. Pettit, moderator

Tuesday, January 14, 2020
Minnesota CLE Conference Center
600 Nicollet Mall, Suite 370
Seventh Street & Nicollet Mall, Third Floor City Center
Minneapolis, Minnesota

Schedule times for replays may differ from those for the live program. Start times are as indicated below. Please register at least one week in advance to secure your copy of the course materials on the day of the seminar.

Minneapolis – 1/29/20 (Check-In 8:30; Replay 9:00)
Minneapolis – 2/10/20 (Check-In 8:30; Replay 9:00)
Minnesota CLE Conference Center
600 Nicollet Mall, Suite 370
Seventh Street and Nicollet Mall, Third Floor City Center

Duluth – 3/6/20 (Check-In 8:30; Replay 9:00)
Pier B Resort, Pilot House Boardroom
800 West Railroad Street

Mankato – 2/20/20 (Check-In 8:15; Replay 8:30)
Farrish Johnson Law Office
1907 Excel Drive

Saint Cloud – 2/27/20 (Check-In 8:15; Replay 8:30)
Rinke Noonan Law Firm
1015 West Saint Germain Street

Willmar – 4/14/20 (Check-In 8:45; Replay 9:00)
Anderson Larson Hanson & Saunders
331 Third Street Southwest

In-Person Live:  $245 MSBA member / $245 paralegal / $295 standard rate
In-Person Replay:  $215 MSBA member / $215 paralegal / $265 standard rate

Other discounts that may apply:

Scholarships available!
Need-based scholarships are available for in-person and online seminars. For further information or to obtain a scholarship application, contact us at 800-759-8840 or customerservice@minncle.org.

Minnesota CLE is applying to the Minnesota State Board of CLE for 6.0 standard CLE credits. The maximum number of total credits attendees may claim for this program is 6.0 credits.

The course book is included in your registration fee. The Annotated Board-Member Managed Operating Agreement will be provided as a special bonus to attendees only. 

Can't attend? The course manual is available for $95 (plus tax and handling). The Annotated Operating Agreement is not included in the course manual and is sold separately for $49 (plus tax and handling). To order, call Minnesota CLE at 800-759-8840. Available in hard copy. Orders will be filled after the live seminar.