Emmanuel, what`s going on? Thank you very much. We`re glad you find this so useful 🙂 In a member-Managed LLC, your title is actually Managing Member. This means that you are a member (owner) and have the power to act on behalf of the LLC and engage it in contracts and agreements. Your website has been very helpful. I learned a lot (as I might as well do in California if I`m going to do business there). I`m sorry to bother, but I could also get a copy of the member`s operating contract under management. However, you can download our free operating contract here: PDF | Google Doc | Microsoft Word Our LLC enterprise agreement is not only free, but also carefully written in a language you can actually understand. There is no reason to have 30 pages of dense legale. Or paragraphs that already contain information in the statutes of the state. The laws of your state remain the same, no matter what you write in your enterprise contract.
Learn more about how LCs are taxed as soon as you decide to complete a business contract and start your own business. Yes, an enterprise agreement can be changed if each member accepts a change and signs it. Every state will say you should, but guess what? Almost all state laws say that non-compliance with LLC corporate agreements for your LLC does not cause you to lose your liability protection. We have not yet seen a real state agency requires that you have an LLC corporate agreement. 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. An enterprise agreement is an agreement for your LLC members that defines how the LLC is managed both financially and operationally. If there are to be amendments or amendments to this agreement, make sure that there are sufficient rules so that no party can make changes without the agreement of the majority or all members.