If there are many members of an LLC, a limited number of people can be chosen to actually run the LLC for the members. They are the managers. The managers can be, but do not have to be, members of the LLC. The managers can be set up to resemble a board of directors if that is what the members want. Managers are not required for an LLC. The members may simply retain all managerial authority for themselves. Or they can grant partial or limited powers to certain members and/or managers. In fact, almost any practical division of power among members and/or managers is possible with an LLC. This flexibility of control by the owners is one of the very best features of the LLC.
Answer provided by Chuck Roach - Roach Law Office
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment