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TIL LLC operating agreements can override state law in ways I never expected
I was reading through a case summary from a business dispute in Ohio last week and found out that an operating agreement can actually waive certain fiduciary duties that state law normally imposes on LLC members. I always assumed the statute was the floor, but apparently it's more like a default setting that private contracts can adjust. This surprised me because I've been drafting basic agreements for years without realizing how much flexibility we had. It makes me wonder how many small business owners have agreements that accidentally give up protections they didn't even know existed. Has anyone else run into a clause that quietly changed their legal rights, or is this something lawyers just never mention to clients?
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perez.barbara1mo ago
My buddy's LLC agreement silently let the other member sell his shares, zero warning, lawsuit pending.
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