Legal Question in Administrative Law in Wisconsin
managing member limitations in a LLC
I am the managing member of a LLC for the state of Wisconsin.
What are the limitations that I have in the management of the LLC? In other words, what do I have to consult with other members before I do it? What I am looking for is whether I have the latitude of a CEO, or whether every move I make (contracts, bank dealings, payments of services, etc.) can be done without meeting all the time with the members.
In the bylaws of the LLC, no mention is made of what the managing member's limitations are.
Thank you.
1 Answer from Attorneys
Re: managing member limitations in a LLC
This was listed as an administrative law question. It is not. It is a corporate law question which I cannot answer. Please change the category to business or corporate law to get an answer from someone familiar with that area of law. I am not.
"Administrative law" is the law of administrative agencies, not administration in a corporate setting.
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