Members and Ownership

by Craig
(Suwanee, GA)

Do members of an LLC have to own units in the Company or can there be members with out any ownership units?

Answer

You're not a member if you don't own any membership units....you're just some guy on the street.

It's like asking whether one can be a shareholder in a corporation without owning any shares.

Now, you can choose someone to act as Manager of an LLC, who can make day to day decisions on behalf of the LLC and bind the LLC in contracts. A Manager can be a person who doesn't own membership interests in the LLC.