Does a single-member LLC need a corporate resolution?

Most business decisions, including day-to-day decisions, are made without resolutions or other documentation. With an SMLLC, you'd only use a resolution to document the most important business matters or actions such as: buying or selling real estate.

Can a single-member LLC be sued personally?

As a rule, a single-member LLC is considered a separate legal entity from its owner. This means that the owner's personal assets are shielded from any debts and liabilities incurred by your LLC.

US Legal Forms
Corporate Resolution for Single Member LLC

Single Member Llc Resolution Template For Sell Real Estate In Phoenix

Category:

Corporations - Minutes and Resolutions - Actions

State:

Multi-State

City:

Phoenix

Control #:

US-0031-CR-9

Format:

Instant download

Description

Generic form with which a corporation may record resolutions of the board of directors or shareholders.

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FAQ

Most business decisions, including day-to-day decisions, are made without resolutions or other documentation. With an SMLLC, you'd only use a resolution to document the most important business matters or actions such as: buying or selling real estate.

As mentioned, any LLC member can propose a resolution, but all members have to vote on it. The majority of LLC members must vote in favor of the resolution to pass it, but every LLC can have its own voting rules. For example, some LLCs may assign different values to different member votes.

As a rule, a single-member LLC is considered a separate legal entity from its owner. This means that the owner's personal assets are shielded from any debts and liabilities incurred by your LLC.

The purpose of any corporate resolution is to document the actions the board of directors will take on behalf of a corporation. When you create a resolution to sell real estate property, you need to include the following information: The legal name of the corporation.

Voting Resolutions: Voting resolutions are used to make important decisions in the LLC. Voting resolutions require the approval of a certain number of members for the resolution to pass. Consent Resolutions: Consent resolutions are used when all members of the LLC agree to a certain action or decision.

Any LLC member can propose a resolution, but all members must vote on it. Typically a majority of the members is needed to pass the resolution, but each LLC may have different voting rights. Some LLCs give a different value to each member's vote based on their percentage of interest in the company.

Single-member LLCs do not need resolutions, but they can still come in handy in certain situations, like if the company must defend itself in court. Documenting changes or actions not covered in the original bylaws or articles of incorporation can help an LLC protect itself from lawsuits or judicial investigations.

How to fill out the Limited Liability Company Resolution Template? Gather the required company details and officer names. Fill in the meeting date, time, and location. Document the resolutions discussed and decisions made. Sign the resolution as required by company policy.

More info

Free template for an LLC member resolution. Editable document you can use to formally record member resolutions for your limited liability company.Easily draft LLC or corporation resolutions to sell real estate. Get authorization to sell property with our customizable templates. Formulate the Resolution Statement: State the formal decision to sell the property and outline the terms and conditions. Learn about forming an LLC in Arizona. FindLaw gives you 8 easy steps to create your LLC and answers to your FAQs about Arizona LLCs. Engage in the purchase or sale of company properties. Launch a joint venture. Understanding LLC Resolutions.

Single Member Llc Resolution Template For Sell Real Estate In Phoenix

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