Tag Archives: LLC members

Daily Penalties for LLC Failing to Keep Records

If any member makes a demand that such records be kept when they are not, the LLC will be subject to a daily penalty of at least $25 per day. Continue reading

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Dissociation of LLC Member Does Not Discharge Them from Liability to LLC Members

Becoming a member in an LLC is a serious commitment and dissociation does not relieve the dissociating member from liability, whether the dissociation is voluntary or not. Continue reading

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Oral Agreements of LLC Members Can Be the Operating Agreement

A sole member of an LLC can also have an operating agreement, whether written, oral or implied. Continue reading

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