Your Limited Liability Company: An Operating Manual - Softcover

Mancuso, Anthony

Softcover

ISBN 10: 1413312098 ISBN 13: 9781413312096

Publisher: NOLO, 2010

Synopsis

The step-by-step guide to running your LLC!

Your Limited Liability Company gives you everything you need to maintain the legal validity of your LLC before the courts and the IRS. It helps you approve and document important legal, tax and business decisions to create a paper trail that avoids legal trouble.

The book shows you how to:

prepare minutes of meetings

record important legal, tax and business decisions

handle formal recordkeeping

fill out an LLC Records Book

Your Limited Liability Company provides all the documentation you'll need, including:

minutes

written consents

checklists

over 50 ready-to-use resolutions

The 6th edition is completely updated and revised to include the latest laws and forms for all 50 states, both as tear-outs and on the enclosed CD-ROM.

Forms

Preparing for LLC Meetings
Meeting Summary Sheet
Meeting Participant List
Notice of Meeting
Acknowledgment of Receipt of Notice of Meeting
Membership Voting Proxy
Certification of Mailing of Notice

LLC Minutes and Written Consents
Waiver of Notice of Meeting
Approval of LLC Minutes
Cover Letter for Approval of Minutes of LLC Meeting
Written Consent to Action Without Meeting
Minutes of LLC Meeting

Standard LLC Business Resolutions
Authorization of Treasurer to Open and Use LLC Accounts
Authorization of Treasurer to Open and Use Specific LLC Account(s)
Authorization of LLC Account and Designation of Authorized Signers
Authorization of Rental of Safe Deposit Box
Adoption of Assumed LLC Name
Approval of Contract
Approval of Lease of Premises by LLC
Purchase of Real Property by LLC
Authorization of Sale of Real Property by LLC
Delegation of LLC Authority
Ratification of Contract or Transaction
Rescission of Authority
Certification of LLC Resolution
Affidavit of LLC Resolution
Acknowledgment

LLC Tax Resolutions
LLC Election of Corporate Tax Treatment
Approval of Independent Audit of LLC Financial Records
Approval of LLC Tax Year

Resolutions to Amend the LLC Articles and Operating Agreement
Approval of Amendment to Articles of Organization
Approval of Restatement of Articles of Organization
Amendment of Articles Form
Amendment of LLC Operating Agreement

Membership Resolutions
Approval of LLC Distribution
Approval of Additional Contributions of Capital by Members
Admission of New Member
Approval of Transfer of Membership
Approval of LLC Purchase of Interest of Withdrawing Member

LLC Hiring and Compensation Resolutions
Approval of LLC Hiring
Approval of Bonuses and Salary Increases
Approval of Independent Contractor Services
Appointment of LLC Officers
Authorization of Payment for Attending LLC Meetings
Annual Stipend for Attendance at LLC Meetings
LLC Indemnification and Insurance

Loans to the LLC
Authorization of Loan to LLC at Specific Terms
Authorization of Maximum Loan Amount to LLC
Authorization of LLC Representative to Borrow Funds on Behalf of LLC as Needed
Authorization of Loan Terms Secured by LLC Property
Authorization of Line of Credit
Authorization of Line of Credit With Cap on Each Transaction
Authorization of Line of Credit Secured by LLC Property
Approval of Loan to the LLC
LLC Promissory Note: Installment Payments of Principal and Interest (Amortized Loan)
LLC Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) Secured by LLC Property
LLC Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) With Balloon Payment
LLC Promissory Note: Periodic Payments of Interest With Lump-Sum Principal Payment
LLC Promissory Note: Lump-Sum Payment of Principal and Interest on Specified Date
LLC Promissory Note: Lump-Sum Payment of Principal and Interest on Demand by Noteholder
LLC Promissory Note: Non-Uniform Schedule of Payments of Principal and Interest

Loans by the LLC
Approval of LLC Loan to Insider
Individual Promissory Note: Installment Payments of Principal and Interest (Amortized Loan)
Individual Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) Secured by Property
Individual Promissory Note: Installment Payments of Principal and Interest (Amortized Loan) With Balloon Payment
Individual Promissory Note: Periodic Payments of Interest With Lump-Sum Principal Payment
Individual Promissory Note: Lump-Sum Payment of Principal and Interest on Specified Date
Individual Promissory Note: Lump-Sum Payment of Principal and Interest on Demand by Noteholder
Individual Promissory Note: Non-Uniform Schedule of Payments of Principal and Interest
Release of Promissory Note

Self-Interested Business Dealings between the LLC and Its Members or Managers
LLC Approval of Transaction Benefiting a Member or Manager

About this title

About the Author

Anthony Mancuso is a corporations and limited liability company expert. He graduated from Hastings College of Law in San Francisco, is a member of the California State Bar, writes books and software in the fields of corporate and LLC law, and studies advanced business taxation at Golden Gate University in San Francisco. He has also been a consultant for Silicon Valley EDA (Electronic Design Automation) companies, most recently working on a C++ open-source integrated circuit database project team. He is the author of several Nolo books on forming and operating corporations (both profit and nonprofit) and limited liability companies. His titles include Incorporate Your Business, How to Form a Nonprofit Corporation (national and California editions), Form Your Own Limited Liability Company, The Corporate Records Handbook, and LLC or Corporation?. He wrote and programmed Nolo's LLC Maker and Incorporator Pro software programs, which generate state-by-state articles and other forms for organizing corporations and LLCs. His books and software have shown over a quarter of a million businesses and organizations how to form a corporation or LLC. He also is a licensed helicopter pilot and has performed for years as a guitarist in many musical idioms.

Review

I have a special place in my heart for Nolo... [Its goal] has always been to give the public enough information so that they can make informed decisions. (New Orleans Times-Picayune 20090101)

Berkeley-based Nolo has been publishing easy-to-read, self-help books on personal finance and law since the early '70s (Forbes 20090101)

Nolo is a pioneer in both consumer and business self-help books and software. (Los Angeles Times 20090101)

Edition details

• Publisher: NOLO
• Publication date: 2010
• ISBN 10: 1413312098
• ISBN 13: 9781413312096
• Binding: Paperback
• Language: English
• Edition number: 6
• Number of pages: 512