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Irwin Law
Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 4831
Experience:  30+ yrs. representing small business, real estate, probate
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1) What are the steps to add new member to single member LLC?

Resolved Question:

1) What are the steps to add new member to single member LLC?

2) from researching, it seems all one needs to do is to file new amended articles of organization LLC-2 and statement of information llc-12?

3) If the forms above are the correct ones, when I filed these originally I saw no spaces for entering information on the new partners or what their shares would be. Does this go in a separate page to be attached to those 'cover' forms?
Submitted: 1 year ago.
Category: Business Law
Expert:  Irwin Law replied 1 year ago.

Hello and thanks for submitting this question. You do not amend the original Articles. The Operating Agreement, if there is one should have a procedure for admitting new members. Make sure any pre-admission requirements in the LLC Operating Agreement have been met, and check your state's securities laws if a purchase of the membership is involved. If there is no OA, then you and the new member can sign a simple agreement whereby the new member is admitted and the terms of the admission. Afterward, is essential to complete an Operating Agreement. Here is additional information on this subject: (Note: a final symbol( #) in the URL is not highlighted here, so you might have to copy and paste it.)

http://books.google.com/books?id=wsXjn5CQO_kC&pg=PA146&lpg=PA146&dq=llc+admitting+new+member&source=bl&ots=WI2rW5Bu97&sig=aMdYjJywVg4iRjOvRGnHUUH9CIk&hl=en&sa=X&ei=7TBtUeqIFcK6yQGtmYGoCg&ved=0CEUQ6AEwAw#

I hope this information is helpful and that you will enter a positive rating. I thank you for submitting your question to Pearl-Just Answer. We appreciate your business. If you need clarification or additional information, please send me a Reply and I will be happy to explain further. Please consult a local attorney to verify the accuracy of this information according to your state's laws.

Irwin Law, Attorney
Category: Business Law
Satisfied Customers: 4831
Experience: 30+ yrs. representing small business, real estate, probate
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