Legal Question in Investment Law in California
I want to invest personal and family members money in the stock market.
What are the complications like tax, licenses, are involved?
What if I want to form a LLC for the same purpose? What complications would be involved?
Asked on 8/26/09, 3:06 pm
1 Answer from Attorneys
Terry A. Nelson
Nelson & Lawless
Numerous issues and problems exist if you are soliciting money from others to invest. You can probably solve them by forming a limited partnership or a joint venture for the purpose of 'pooling money', with specific authority to invest, using vote of members to authorize any given transaction, or within a given range of value. You could influence votes without taking on responsibility for decisions. If serious about doing this, feel free to contact me for the legal help in organization you'll need.
Answered on 8/26/09, 8:21 pm
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