Legal Question in Employment Law in New Jersey
Does an LLC have stockholders? We are a small company, we have 3 owners, but have never issued stock, etc. Thank you.
Asked on 2/24/10, 11:00 am
1 Answer from Attorneys
John Corbett
Corbett Law Firm LLC
An LLC does not have stockholders. It has members. However, the member's interests are not necessarily equal. So, it is necessary to have an Operating Agreement or to specify the interests elsewhere to avoid problems with the management of the company. � Your timing is perfect. My two-evening course on LLC formation starts at Camden County College (Blackwood Campus) tomorrow. To register, see the "education" link on my web site.
See also: http://info.corbettlaw.net/lawguru.htm
Answered on 3/01/10, 12:20 pm
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