What is an LLC Member?

The LLC is a special type of corporate entity, and it is typically registered with the Secretary of State. In some states it is filed with the Divison of Corporations. In either case, even though all 50 states have their own laws and regulations there are some similarities. One of those similarities, is that the owners of an LLC are called members.

How many members are required?

To file for a limited liability company, there must be at least 1 member. The member doesn't even have to be a real person, in fact it can be another LLC or corporation.

How old do members have to be?

To be a member, a good general rule is that the member must be at least 18 years old. In some states, there isn't an age requirement, however, there are other laws related to minors entering into contracts. So, as a general rule you should focus on making sure that your members are older than 18. If you have minors less than 18, then you will definitely want to speak with an attorney before making a filing.

The Silent Owner of an LLC

The owners, or members, don't really need to be active in the business. They can be silent owners as long as the business is managed by other people. In this case, and in some states, at the time of filing you will whether the members are also managers. In this case, some states will have you declare which members are also managers.

Member Managed & Manager Managed

The member managed limited liability company means that the members are actually operating the business. They are declaring that the day to day operations are under the supervision of the members. The manager managed LLC is essentially a company run by managers, and the members are silent. Some states will have you declare who is managing the business day to day.