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Richard
Richard, Attorney
Category: Business Law
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Experience:  32 years of experience practicing law and a businessman.
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Can an LLC have more than one class of units, similar to classes

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Can an LLC have more than one class of units, similar to classes of stock in corporation?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.


Good evening. Yes, that's one of the advantages of an LLC...it's flexibility. Ownership units and classes are determined not be stock certificates as in corporations, but rather described and defined in the LLC's operating agreement. In that operating agreement, the LLC can provide for as many classes of ownership units as necessary and also has the right to provide for preferential allocations of both profits and losses and distributions of cash.



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