Legal Question in Business Law in New York

LLC member titles

I recently filed articles of organization to form two separate LLC's in New York State. The purpose for organization is to run two rental properties. What titles should I assign to the members ( two members, husband and wife-ego not an issue!). One property is 50/50 and the other is 99/1 %. member-manged. Thanks!


Asked on 6/21/08, 8:33 am

2 Answers from Attorneys
Nancy Delain Delain Law Office, PLLC

Re: LLC member titles

LLCs can have presidents, vice-presidents, secretaries and treasurers, as well as boards of directors, just like corporations can. "Member" is the term assigned to what would be a shareholder in a corporation.

THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT YOUR ATTORNEY.

Read more
Answered on 6/23/08, 10:25 am
Michael Markowitz Michael A. Markowitz, PC

Re: LLC member titles

Both individuals should be managers.

Mike.

Read more
Answered on 6/21/08, 12:57 pm


Related Questions & Answers

More Business Law questions and answers in New York