LLC adding partners or selling stock?

by Jimmy P
(Sacramento, CA)

I am looking to start an LLC with one partner. We will have to hire a CEO soon, as I do marketing and he does programming.

Does an LLC allow you to offer shares to a new partner?

I do not want to start an LLC and then have to incorporate immediately.
Thanks

Answer

Yes, you can buy and sell membership interests in a limited liability company.

Your Legalzoom formation package includes (among other things):

1. The Operating Agreement (which governs how membership interests are transferred)

2. Membership certificates (which are evidence of ownership of membership interests--similar to a stock certificate)

3. Membership transfer ledger (similar to a stock transfer ledger).