Any entity or individual can be a member of an LLC with the notable exceptions of banks and insurance companies. Forming a LLC requires filing articles with the State Corporate Commission office.
However, forming an LLC is just the first step. They are several subsequent steps necessary to make your LLC compliant, such as drafting an operating agreement. An operating agreement is a key document that outlines the business’ financial and functional decisions including rules, regulations and provisions. While an operating agreement is not mandatory in all States, it is essential as it acts to govern the internal operations of the business.
Reid Council Law Firm can assist in forming your LLC and drafting an operating agreement tailored to the desires of the members. Schedule your business development session today by visiting us at http://www.reidcouncillaw.com or give us a call at (215) 258-4620.
#wisdomwednesday #blackattorney #womeninlaw #estateplanning #businesslaw #entrepreneurs #ReidCouncilLaw #philadelphia #pennsylvania