WHO RUNS A NEVADA LLC?

IMPORTANCE OF ENTITY PROTECTION – LIMITED PERSONAL LIABILITY
TYPES OF PROTECTION AND THE IMPORTANCE OF YOUR NEVADA BUSINESS LAWYER

Limited Liability Companies (LLC) (continued)

LLCs are governed through a contract, known as an Operating Agreement, between and among the LLC members.  LLCs may be managed by their members according to the members' proportionate ownership interests; however, more common agreements provide for a manager or board of managers to oversee the day-to-day operations of the LLC. These managers are elected or appointed by members in the LLC and may also be removed by the very same members if the Operating Agreement provides such a function. A well-drafted Operating Agreement ensures members' interests are protected; appropriately limits the authority of Managers and provides for the ongoing health of the entity.  Prior to making any decision regarding the formation of an LLC we highly recommend that you contact a Nevada business lawyer to ensure that your rights are protected and that the entity you choose best suits your business goals.


Disclaimer: This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship. If you have questions or need specific advice relating to the matters contained herein, please contact Lovaas & Lehtinen, P.C.