Judd A. Lindenfeld writes that the Second Circuit's statement that LLCs practicing law "run afoul" of New York law puts law firms organized as LLCs in a difficult position. While state courts are not bound by a federal court's interpretation of an unsettled state law, a clear pronouncement by the Second Circuit is persuasive precedent for lower courts.
May 30, 2017 at 02:03 PM
1 minute read
In New York, a professional services limited liability company (PLLC) may only be formed by state-licensed professionals such as doctors, architects, chiropractors and, of course, lawyers.
But does this mean that lawyers must use a PLLC if they form a limited liability company? May lawyers choose to form an LLC instead?
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