What types of Limited Liability Companies are available?
We offer five standard varieties of Limited Liability Companies (LLCs). A LLC may or may not have managers. If the LLC has one or more members, the Members generally elect the Managers, who make company decisions, carry out company decisions, and take care of day to day business. A LLC can also be set up with a permanent Manager that cannot be voted out of office. The first type of LLC is “Single Member” Managed. It is designed for a limited liability company that shall have only one member for the foreseeable future. A new Operating Agreement must be prepared when any new members are admitted. The second is “Member Managed”, which is generally used when the owners (members) are all involved in the day-to-day operations of the business and want to make company decisions. It is designed like a simple partnership with no centralized management. The third is “Elected Manager” with the manager being elected from time to time by the members. This variety is used when some owners will not be
