This
article discusses the relevant rules and matters related to
the owners of a Florida limited liability corporation.
Number of
Members
Beginning in 1998, Florida
started permitting one member LLC entities.
Accordingly, it is possible to form an LLC with only one
member. Also, there is no limit on the maximum number
of persons or entities who may be members of the legal
entity so a Florida LLC can have as many members as it
desires.
Type of Members Allowed for a Florida LLC
Florida LLC laws do not impose any restrictions on who can
be a member of a Fla limited liability company. There
are no residence or citizen requirements and any kind of
entity (individual, general partnerships, limited
partnerships, limited liability companies, corporations,
trusts, estates and other associations) can be a member.
Admitting
a Member
The Member admission
provisions of an LLC's operating agreement set forth the
requirements for adding a member to the business entity.
Generally, the Florida LLC laws allow each legal entity to
set these conditions. If it is not addressed in the
written agreement, no person may be admitted as a member
unless a majority in interest of the existing members
approve the admission of the new member. The operating
agreement can alter this requirement or add additional
conditions.
Member
Rights, Obligations and Voting
The Florida LLC Act does not
specifically address member voting, meeting or other rights
and obligations. These matters should be detailed in
the Operating Agreement of each Florida LLC.
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