The people or organizations known as organizers are in charge of drafting and submitting the LLC formation documents. They aren’t always the LLC’s owners or members. Furthermore, there are no legal restrictions on how many members an LLC may have. A single member or several members can make up an LLC.
One or more managers normally oversee the management of an LLC. The managers are in charge of managing day-to-day activities and making decisions on behalf of the LLC. An LLC’s manager is not always the owner. In reality, employing non-owner managers for LLCs is rather prevalent.
It is significant to remember that an LLC’s administration and structure can differ depending on the state in which it is established. While some states mandate that LLCs have a designated management, others permit member-managed LLCs. To ensure adherence to state rules and regulations, it is crucial to seek legal advice before incorporating an LLC.
In conclusion, there is no restriction on how many organizers and members an LLC may have. An LLC’s structure and management might differ depending on the state in which it was founded, and the manager is not always the owner. To ensure adherence to state rules and regulations, it is crucial to seek legal advice before incorporating an LLC.