Forming a limited liability company (LLC) requires completing documents with the appropriate state agency. The state agency will then issue a certificate giving the company the right to operating as a LLC. After the LLC is formed, members, or owners, will leave or want to join the LLC. When adding a new member to the LLC, it is important not to incur additional tax information and protect the limit liability status.
First, review the LLC’s operating agreement. An operating agreement is a legally enforceable contract outlining how an LLC will be structured and operate. Focus on any sections about adding a new owner to the LLC. This will help avoid violating any rules and upsetting current owners.
If the agreement does not outline how to add a new owner, you will need to draft a new document addressing the issue. The document should include language explaining the current members’ intent to add the new member by a certain date.
The members will have to amend the operating agreement to add the new owner. Another option is to create an amendment. In both options:
Yes, hiring a business lawyer will help you add a new member to the LLC without compromising the LLC’s structure.
Last Modified: 03-27-2017 06:01 PM PDTLaw Library Disclaimer
We've helped more than 4 million clients find the right lawyer – for free. Present your case online in minutes. LegalMatch matches you to pre-screened lawyers in your city or county based on the specifics of your case. Within 24 hours experienced local lawyers review it and evaluate if you have a solid case. If so, attorneys respond with an offer to represent you that includes a full attorney profile with details on their fee structure, background, and ratings by other LegalMatch users so you can decide if they're the right lawyer for you.