An LLC enterprise agreement is the legal document that governs your limited liability company. The organization`s articles do NOT govern your LLC. A corporate agreement shows who owns and manages the LLC, how profits are handled and how any problems that the LLC might have now or in the future will be resolved. An LLC enterprise agreement is not required in any U.S. state, even if it is important. Hello, Samantha, thank you for the kind words. And I`m glad our site was so helpful. Before I get into the theme managed by managers, I would just add a note on how to be the LLC organizer and keep your documentation in order. Since you form the LLC for your son, you will be the organizer of LLC and will sign the Articles of the Organization of California. Your son`s name is not in the statutes because California does not ask for the member`s information on this form. Thus, after you sign as an organizer and as an LLC, you can sign an LLC Organizer statement in Lieu of Organization Meeting, resign as an LLC organizer and appoint your son as a member. In addition, your son should sign an LLC operating contract. In terms of managing the administration of e.V.
Member-Managed, I think you could go both ways. You can choose that the LLC be managed as a manager in the statutes. Then sign a company agreement managed by managers, in which your son appoints you manager. After that, you are the only one empowered to engage the LLC in contracts and agreements. In other words, you will be the only one who can act on behalf of LLC. However, your son, who is a member, has the power to remove you as a manager because he is the only member (and does not need the agreement of other members, because there is none). However, I think a simpler option is only a member-run LLC, where your son is known as a member of management. It has full authority and the right to engage the LLC in contracts and agreements.
However, you can simply be a “consultant” or an independent contractor and you are doing what you are already doing. Supervise and manage until your son has enough experience and maturity to take care of himself. You might have an agreement like this orally, but it`s best to spell it in writing. And you could include this language in LLC`s operating contract. Hope that helps bring a little more clarity. Your site is fantastic and very informative. I intend to create an FL LLC and this has helped me understand the details and the trade-offs. Do you have a model for a corporate contract manager LLC? If not, what should I think of in the member-run enterprise agreement? Thank you, Scotty Flexibility – If you set up the structure of your LLC operating contract, you can keep it simple or add as many laws within the company as you think. An LLC generally has much less paperwork and meets requirements than most other types of training.
Tips on where important business information (for example. B member information and primary residence address) can be found List of important business information, including name LLC, registered agent, state, purpose and main location How are decisions made? In this section, it is explained that members vote on managers and that a leader is elected CEO. The CEM manages procedures and executes managers` decisions.