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When a Member Leaves an LLC
Limited Liability Companies are generally intended to outlive their owners/members. Unless the LLC’s operating agreement specifies that the company dissolved when one member leaves the LLC, your...
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LLC Shareholder/Member Meeting Requirements
While corporation owners are called “shareholders”, LLC owners are called “members”. Both a shareholder and a member own a piece of the corporation or LLC. Typical corporations will have three levels...
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What Happens When an LLC Member Dies?
A sudden death in a business can create discomfort as other partners struggle to figure out the new company ownership. In the case of single-member LLCs, a death can mean the end of the company....
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LLC Forms to Register a New LLC
What paperwork you need to start a new LLC will vary depending on the state in which you register your limited liability company. Fortunately, although limited liability companies exist purely in state...
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Selling or Transferring Your Membership Interest in an LLC
If you co-own an LLC with one or more partners and are ready to leave the LLC, you may be able to sell or transfer your membership interest. Having a current LLC member buy out your share in the LLC is...
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Adding a Member to a Single-Member LLC
Adding a member to an LLC is straightforward, but there are slightly different considerations when you add a new member to a single-member LLC. You will not need to re-register your LLC with the state,...
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What to Include in the LLC Operating Agreement
Though not all states require an operating agreement and none require you to file it, this document may be the most important one for your limited liability company. The operating agreement governs the...
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Member-Managed vs. Manager-Managed
A decision you must make when starting a limited liability company is whether your LLC will be member-managed or manager-managed. Though you may change your mind later, it is better to think about your...
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LLC Members With Uneven Ownership
Despite what the graphic may imply, uneven ownership in an LLC does not necessarily mean an unfair distribution; there may be a number of reasons LLC members may decide to own an unequal share in the...
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Forming a Limited Liability Company
You can form an LLC yourself even if you have no formal legal or business training. A limited liability company is the easiest type of business entity to create and requires only five steps: Choose a...
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