Free Operating Agreement Template Word

Your son`s name is not on the organization`s by-articles because California does not require member information in this form. So, after signing as an organizer and approving the LLC, you can sign a statement from the LLC organizer instead of the organizing meeting, resign as an LLC organizer, and appoint your son as a member. In addition, your son should sign an LLC company agreement. When it comes to Manager-Managed vs Member-managed, I think you could go both ways. You can choose to manage the LLC as a manager in the organization`s by-articles. Then sign a manager-managed company agreement in which your son appoints you as manager. Thereafter, you are the only one entitled to bind the LLC to contracts and agreements. In other words, only you will be able to act on behalf of the LLC. However, your son, who is a member, has the power to withdraw you as a manager, because he is the only member (and does not need the agreement of other members, since there is none). However, I think a simpler option is to simply create a member-managed LLC, where your son is known as a managing member. He has all the authority and right to bind the LLC to contracts and agreements.

However, you can simply be a “consultant” or an independent contractor and do what you are already doing. Supervise and manage until your son has enough experience and maturity to take matters upon himself. They could make such an agreement orally, but it is better to write it down in writing. And you could add that language to LLC`s enterprise agreement….