How can a single member LLC add a member?
Typically, a LLC has a procedure for adding new members in its operating agreement. Sometimes, the process is similar to the selling of shares in a corporation.
A LLC typically has an operating agreement that governs the procedures for a sale of an interest in the business. The law in Missouri requires an operating agreement. Without one, there is no limited liability shield for the members.
The LLC operating agreement may vary in complexity, and typically contains the following information:
* Company name and address information
* Registered agent information
* Name and address information for each LLC member
* LLC management structure and operation
* Items contributed by each Member
* Fair market value of each item contributed
* Date of company dissolution
* Accounting method
* Tax treatment for your LLC
* Sample LLC operating resolutions
* Appointment of LLC officers
* Designation of a final capital pay-in date