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Richard, Attorney
Category: Business Law
Satisfied Customers: 55144
Experience:  32 years of experience practicing law and a businessman.
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My siblings and me entered into a contract to purchase an office,

Resolved Question:

My siblings and me entered into a contract to purchase an office, 30 day due diligence period begun. We would like to incorporate an LLC to be the buyer. Two questions:
1) May we register as the new LLC's address the new office's, before closing is made? Or is it better to give home address?
2) If all of us are members but only two will manage, How should I designate each: only two MGR or MGRM? What about the non-managing members (any designation in articles of organization)?
Submitted: 5 years ago.
Category: Business Law
Expert:  Richard replied 5 years ago.

Good afternoon. 1) No, you don't want to do that; you want to use a home address or you can use either CT Corporation or Capitol Services to act as registered agent with their registered address for a nominal fee until you purchase the property. But, until that is closed, you don't want to be getting mail at an address you don't control or own. 2) If the managers are also members, you can designate them as managing members. The form of Certificate of Formation online at the Florida Secretary of State website will indicate whether the non-managing members need to be identified.


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Customer: replied 5 years ago.
Then, Isn't it true that MGRM designation applies only when all of members are managers?
Expert:  Richard replied 5 years ago.
Not really....if it is to be member managed, it really means there are not going to be any managers, but simply run by the members themselves. If there are going to be specified managers, you want to identity them as managers.
Customer: replied 5 years ago.
Just to make sure I am understanding correctly: Even though NOT ALL of members will be managing, those who will be managing may be called MGRM?
Expert:  Richard replied 5 years ago. can designate them either as managers or managing members.

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