What is the Role of a Manager in an LLC?
In this episode of Coffee with Carl, attorney Carl Zoellner explains the manager’s role in LLCs.
As I said, I’m going to stick to my promise here. It’s going to be a short article today.
When we start looking at the director and officer position within a corporation, this manager position within the LLC sort of deals with all the day-to-day decisions or decisions that would be in line with the type of business as well as dealing with third parties.
When I’m acting on behalf of my LLC, generally I’m interacting with third parties or the general public as a manager of my LLC.
Now, here’s where it gets confusing, in the matter of whether you can have officer positions in your LLC operating agreement. You can have positions like president, vice-president, CEO, and things like that within your LLC.
But when I’m talking about managers, that’s the most common version of the person or persons who will be handling the day to day management decisions of your business. Please keep in mind, member equals owners, which means making huge decisions on behalf of your business.
You need to dissolve or sell all or substantially all the assets. The manager’s going to be more in charge of the day-to-day activities and how in most places you’ll be signing your name when you’re interacting with third parties.
Now, as I said if there is a need you can add officers to your LLC. That being said, those circumstances tend to be pretty limited. Just as a reminder, as well as we go farther into this series or start talking about these LLCs we wanna make sure as well, we’re going to a short video on the difference between member-managed and manager-managed LLCs as well.
As always, if anybody has any questions and you are our client, you’re more than welcome to schedule a time with me or any of the other attorneys.
I would also encourage everybody to continue to take advantage of our free content out there.
We like to educate our clients so we can have productive conversations when we start looking at your particular situation.
So until next time, I want to thank everybody for joining me for Coffee with Carl. I look forward to seeing y’all. Of course, I plan to attend Toby’s Tax Tuesdays and watch Toni Talks.
I’m also a consumer of our content as well because I like it. Until next time, thanks for joining me. We will catch you on the next episode. Thanks, everyone.
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