Split Your LLC Interest Into Two Parts

LLC ownership is evidenced by an LLC interest.  The nature of this interest is determined by contract -- the LLC operating agreement -- or by statute.  Uncommon to most, your ownership in the LLC is actually split up into two parts: (1) transferable interest and (2) nontransferable interest. Transferable Interest and Nontransferable Interest The transferable interest is your economic right to receive distributions and share in the profits of the LLC.  The nontransferable interest includes your right to vote, obtain information (i.e. books and records) and that other than your transferable interest.  Together, both of these interests make up your LLC [...]

By |April 3rd, 2016|Categories: Asset Protection|Tags: , , |

Consider An LLC With A Board of Directors

It certainly isn't commonplace to think of the limited liability company (hereinafter "LLC") as having a board of directors.  In fact, it may be that most individuals, upon hearing the words "board of directors," immediately assume the topic of conversation revolves around the action of some corporation.  In other words, it might be thought that having a board of directors is exclusively reserved to corporations, and not LLCs. I'll take the liberty and cut through your anticipation: they are not.  By way of introduction, all business entities are persons under the law by means of the contracts that create them. For example, the LLC [...]

By |November 10th, 2015|Categories: Asset Protection|Tags: , , , , |
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