Setting Up an LLC: Member or Manager Managed LLC (Business Formation)

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LLCs often choose a manager where members can be passive. These individuals may be investors and designated as members, but they do not participate in the day-to-day decision making of the company. Here it makes sense to have a manager or managers run the LLC. In large LLCs, it also makes sense to select one or more managers to run the company, since it would be prohibitive to try to get all the members together to make decisions.

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LLC

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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