What forms are required (if any) to know that I'm an equal partner in an LLC corporation during the creation of one?

Asked almost 2 years ago - Lakewood, CA

My partner assures me that the paperwork has been sent in (using legalzoom.com), but I haven't had to sign anything which seems a bit sketchy... how would I check to see if everything is in correct order?

Attorney answers (4)

  1. Michael Charles Doland

    Contributor Level 20

    8

    Lawyers agree

    Answered . Every month I fix corporations originally formed online using services like Legalzoom. They generally emphasize that they are not attorneys. What they don'e do, which lawyers do, is answer the questions that clients don't know how to ask.

    On of the hardest things to do is to issue "securities" which for an LLC are "membership interests. Either a permit or an "exemption from permit" (usually under section 25102(f) is required.

    Frequently there is also no Operaing Agreement which yuo should be signing if you are a Member (owner) and Manager (similar to a Director in a corporation). If you desire a review (and perhaps ongoing representation) I am located in the Brentwood area of Los Angeles. doland@dolandlaw.com. Avvo has other very good business attorneys to chose from.

    The above is general legal and business analysis. It is not "legal advise" but analysis, and different lawyers may... more
  2. Nina Yablok

    Contributor Level 12

    7

    Lawyers agree

    Answered . It is NOT unusual for the members of an LLC to not have signed anything to get the LLC started. The initial documents filed with the Secretary of State need not have the actual owners/members listed.

    Once your partner gets the paperwork back from LegalZoom (and take "zoom" ironically as they aren't particularly fast) there will be an LLC agreement which will list the owners and their percentage interest, and you will need to sign that, although it's not filed with the secretary of state, and there will be minutes of a meeting that you should review and you may or may not have to sign

    And LegalZoom will not have filled out the LLC agreement and paperwork completely so you and your partner will have to do it.

    So you need to ask your partner what paperwork he's gotten back from LegalZoom and then you will have to ask to see it, and then you two need to complete and sign that.

    But the initial filing usually doesn't have your signature on it.

    You don't tug on Superman's cape; you don't spit into the wind; you don't pull the mask off the old Lone Ranger;... more
  3. Shawn Regis Jackson

    Contributor Level 15

    4

    Lawyers agree

    Answered . Once again, Mr. Doland had provided a great answer, hire him to review the matter...and yes, LegalZoom are not attorneys and we often complete their omissions.

    By Grace...
    Shawn Jackson ESQ. (707) 584-4529
    Business Development Attorney EMAIL: Attorneys@CaliforniaBusinessDevelopment.com
    www.CaliforniaBusinessDevelopmentAttorneys.com
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    www.CaliforniaBusinessDevelopmentPlans.com
    www.CaliforniaBusinessDevelopmentIncubator.com


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  4. Tali Alice Buchman

    Contributor Level 7

    4

    Lawyers agree

    Answered . You should ask to see the LLC Agreement, and you should absolutely be required to sign it - and negotiate its terms - if you are an equal member. You should also ask to see the Statement of Information which should have been filed with the state of California within 90 days of formation. If they can't show you that, there is a problem.

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