Draft Operating Agreement in New Jersey for Construction Business
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Operating Agreement
New Jersey
Business
Construction
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Operating Agreement
Florida
Forming LLC with multiple members
Hello, Looking to form LLC with 3 other individuals. What would be the best route to go?
Bruce B.
In florida you would want to have an operating agreement to specify the relationship between the members.
Operating Agreement
Pennsylvania
Can you explain and help with the process of dividing the LLC into 99% and 1%?
I would like to make my dad a 1% owner in the company In order to have an LLC in PA under the age of 18. Me being 17, I would like to create an LLC so that I can function and be fully legal and transparent to the state of PA. I need more specific 1 on 1 guidance on how I can fully make this possible. Any information helps, thank you.
Ryan W.
Hi. This is a difficult question in terms of application and practicality. There is nothing in the LLC laws that prevent a minor from owning an LLC in Pennsylvania. However, the minor may not have capacity to sign a binding agreement such as the documents necessary to create an LLC. More than likely an option to consider may be to have a parent form the LLC and grant the minor an ownership interest through an operating agreement. However, each situation may be different and I urge you to contact legal counsel to discuss your specific circumstances.