LLC
Will my position listed on the LLC documents affect my rights to ownership or input to the company?
My wife & I have recently formed a corporation & purchased a business, along with the land it sits on & the building it occupies. We formed an LLC for the building & property, to protect them from anyone who might try to sue the business. We included our primary home & a rental property in the LLC also. Both my wife & I are listed as officers/shareholders of the corporation. By mistake, when we filled out the documents to form the LLC, my wife was listed as a Manager & I was listed as a Member. My question is: Should I be listed on the LLC documents as a manger also, so that my rights to ownership (50%) of the3 properties are not adversely affected, and that I have an equal voice in the way that they are maintained/managed?
What is needed to add my wife a co owner of my LLC?
I want to add my wife to our LLC as part owner. What forms would I need? How much ownership does she need to qualify for government grants?
Need to dissolve LLC since Partnershp has gone bad
I am a member of a LLC, my parnter is the other member. We are both own 50% of the LLC. The partnership has gone bad and I have been trying to buy him out. He is not interested. We have no signed contract between each other and we do not have a operating agreement..since he is not interested in a buyout..I have obtained a lawyer to file a petition to dissolve the LLC which i understand, could take some money. I would no longer have a fudiciary resonsiblitly with the company and would then start up a new company after that date, doing the same business with the same customers as currently none of my customers are under written contract...seems like this may be a easy way to get my final result.question is can I give my partner written notice of resignation as a member of the LLC at which time I would be entitled to 1/2 of the value of the company at that time?
How would I show who owns what shares in my LLC?
I started my business as a single member LLC in November 2006. On December 31st 2007, I granted 7% of the business to a partner. I want to establish that the business has 100 million authorized units with only 10 million issued. Thus I have 9.3 million units and my partner has 700,000 at this point.What legal documents do I have to produce to document this? Would this be just a resolution of the LLC, or the authorized number (100 million) has to be written in the Operating Aggreement as well?
Can a business be sued for the individual owner's personal debt?
If an individual has a pre-existing debt and they open a business as an LLC, could the LLC be sued to collect that debt even though the LLC is a separate business entity?