based upon the language of the llc law, the prevailing view in new york is that oral operating agreements are unenforceable. in hill v fuld 360 inc., 2019 ny slip op 30718[u] [sup ct, ny county 2019], the court ruled that an alleged oral employment agreement in which plaintiff-employee would have been entitled to a 5% equity stake in a corporation “constitutes a contract for the sale or purchase of a security” and “pursuant to ucc § 8–113, it is enforceable whether or not it is in writing.” there are some important limits, though, on potential enforceability of oral shareholder agreements.