Connecticut Business Attorney Discusses a Member Managed LLC vs. a Manager Managed LLC
Clients ask me as Connecticut Business Attorney, what is the difference between a member managed LLC and a manager managed LLC?
A member managed LLC is much like a partnership, while a manager membered LLC is governed much like a corporation. Think of the manager in a manager managed LLC as a CEO, and the owners are the members that hire the manager to run the business. I advise clients as a Connecticut Business Attorney that in essence, they act as the board of directors in a member managed LLC. In contrast, in a member managed LLC each member and all the members collectively manage the operations and run the day-to-day business of the LLC.
This informational blog post was brought to you by Attorney Eric L. Foster, an experienced Connecticut Business Attorney.
Lindh Foster, LLC
Connecticut Business Lawyer & Debtors Rights Attorney, Eric Foster of Lindh Foster, LLC, has been practicing law for over 25 years in Connecticut, New York and Hong Kong, China. As a Connecticut Business Lawyer, Eric Foster’s legal practice currently centers around representing small businesses and entrepreneurs, in selecting their business structure, forming their businesses, and managing their business transactions. As a former attorney at the Federal Reserve Bank of New York where he focused on the regulation of banks’ lending activities, Attorney Foster is also a passionate consumer advocate and a member of the National Association of Consumer Advocates (NACA). As a Debtor Rights Attorney, Attorney Foster enjoys advocating for and representing consumer debtors in connection with credit card, student loan and other debts they allegedly owe creditors and debt collectors.