Re:membership certificate (1 viewing) (1) Guest
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TOPIC: Re:membership certificate
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abigei (User)
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membership certificate 1 Year, 7 Months ago
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Am i supposed to get a membership certificate as an owner of an LLC? I had a stock certificate from my ownership in an S-corp years ago, but i partnered with other in an LLC and i never received a membership certificate. The attorney for the LLC stated that membership certificates were not necessary for member because an LLC is treated as a partnership. Is this true or do i need a membership certificate in order to prove my ownership in the LLC?
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norton (Moderator)
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Re:membership certificate 1 Year, 7 Months ago
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The Model Business Code doesnt require membership certificates be issued. All that is required is that the parties sign the operating agreement and as members under the operating agreement, that is the evidence of the member's ownership.
Of course, creating the membership certificate is will not hurt.
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Mark (User)
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Re:membership certificate 1 Year, 7 Months ago
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The problem with relying on the operating agreement as proof of ownership is that the operating agreement could have amendments floating around. If you create a membership certificate then at least the certificate will be numbered and you can track the numbered certificates.
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Re:membership certificate 1 Year, 7 Months ago
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If i wanted to find out who was the owner of a company and how much of it they owned where would i look?
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Re:membership certificate 1 Year, 2 Months ago
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this is informative.
Thanks for posting.
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GelRon (User)
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Re:membership certificate 1 Year, 2 Months ago
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Depends on the state. Some states require corp or LLC owners to declare their ownership status and ownership percentage on the articles of incorporation. States that require the owners to declare their ownership percentage may also make such information public. If the states dont make such information public, then you will be hard pressed to obtain such private information.
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