Q.Member-managed vs. manager managed LLCs?

A.When all of the members directly manage the limited liability company ("LLC"), it is a member-managed LLC. By contrast, when the members elect or appoint some of the members to be managers to manage the LLC, it is a manager-managed LLC. Your Articles of Organization, or Operating Agreement, should specify which management method best suits your needs.

© Copyright 1999-2024 Melissa C. Marsh. All Rights Reserved. All Information on this website is subject to a Disclaimer and Use Agreement. This information is provided as general information only and should not be construed as legal advice. We advise you to seek the advice of competent legal counsel to address your own specific questions, facts and circumstances.