Under California law, an LLC member’s ability to take out a loan against an LLC-owned property depends on several important factors. Many LLCs explore this strategy as a means of freeing up capital without selling valuable LLC assets. Understanding the limits and permissions involved is crucial before pursuing this type of financing. What is...
Continue reading ›In California, Limited Liability Companies (“LLC”) are either managed by their members or designated managers, depending on how it is structured. These two kinds of management structures are the primary approaches to LLC management in California and are known as the (1) Member-Managed and (2) Manager-Managed structures. In member-managed LLCs, members are actively involved...
Continue reading ›LLC’s are perhaps the most common form of business entity in the country on account of their approachability. But their large number means that plenty will and do fail. When this occurs, members of the LLC can file a lawsuit for “involuntary dissolution.” That said, the non-dissolving members have a way of fighting back:...
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