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This question is vague but most likely you are referring to a LLC Operating Agreement which states how much each owner's (often referred to as "Members") interest is in an LLC. Interest is described as how much of a percentage they own, not shares like a corporation
== == The answer to your question depends upon the law in your state. If an individual files for bankruptcy most assets of the individual may be sold or otherwise disposed of in a Chapter 7 bankruptcy in to partially satisfy the debts of the individual. While an interest in an LLC is an asset of the individual, many states have statutes within their LLC Act which provide that an LLC interest may not be taken outright by a creditor, but rather a charging order will be issued. Typically this means that the individual who is the holder of the LLC interest will continue to be a member of the LLC and will continue to vote the LLC interest; however, any distributions which are made by the LLC to the individual would be paid to the creditor or creditors rather than to the individual due to the charging order.
Retail Grocery Inventory Service.Founded as a family-owned business in 1958 as RGIS Inventory Specialists. In January 2006, RGIS Inventory Specialists has incorporated into RGIS LLC which subsequently became a subsidiary of Impala Partners.And in May 2007, Blackstone Group has finally acquired a controlling interest of RGIS LLC.
A controlling interest or majority shareholder.
Fiat have the controlling interest in Ferrari.
White Collar - 2009 Controlling Interest 5-4 was released on: USA: 7 November 2013
A managing member in an LLC is a person who holds an ownership interest the company. However, that person also is active in the day to day management of the company.
If the LLc is basically your interest in a professional partnership type arrangment...say a consulting firm....try to show that their is no market for your interest..the value is really only comes from the involvement of those working in the business....hope none of your partners offers to buy out your interest...that type of thing. If there is value in your interest, and it isn't much more than an investment, your pretty much screwed...
Yes!
LLC
The IRS can go after anything that could be construed as a fraudulent transfer to evade taxes. And even if it could not establish that the transfer was fraudulent, the IRS could go after your ownership interest in the LLC and take the LLC away from you to satisfy your tax debt.
Exceptions to Limited Liability Torts (Injuries to Others) Members and managers of an LLC can be personally liable for financial loss if caused by their own careless behaviour. Breach of Duty "Duty of care" means that managers and owners of LLC have a legal obligation to manage LLC in good faith and in the best interest of LLC and its owners. There can be also other reasons to lose limited liability.