![]() ![]() ![]() For instance, one LLC could be the single-member of another LLC (often called a “subsidiary”) as part of a holding company structure. LLC Members can adopt various ownership structures, and the Operating Agreement allows them to be pretty flexible when it comes to naming LLC Members. LLC Members: A Look at Ownership StructuresĪt a minimum, an LLC needs one Member, known as a “single-member LLC.” For this kind of LLC, the Operating Agreement says that the sole LLC Member owns and controls everything.Management responsibilities (if any) of LLC Members.Shares in profits and losses for LLC Members.This agreement covers several crucial aspects that define the Members’ roles and their relationship with the company.Īn LLC Operating Agreement should include: The LLC Operating Agreement acts as a contract between LLC Members, outlining the rules and responsibilities for running the company. The ownership of an LLC lies with its Members, who share the ownership interest in the company. ![]() In this article, we discuss common management and ownership structures for LLCs and explore the roles of LLC Members and Managers. LLCs offer the flexibility to create unique management structures, pick officer titles, distribute management responsibilities, and outline ownership interest. Who owns and manages an LLC? If you’re thinking about setting up a Limited Liability Company (LLC), it’s helpful to understand the roles of LLC owners and how they’re involved in managing the business. ![]()
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