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A member of the LLC should have an ethical responsibility to meet the obligations of the firm. They should have duty of care.
In a member-managed LLC, all members (owners) are involved in decision-making. If you are a single-member LLC, youthe ownerare the manager. Major decisions, such as loans and contracts, require a majority of the vote for approval.
A manager may be removed at any time without notice or cause by consent of the members holding more than 50 percent of the then-current percentage or other interest in the profits of the LLC.
A Florida LLC can be managed in two ways: by its members, or by managers (or a single manager). There is no inherently better choice. Each LLC must determine its own needs and what management structure will suit its business best.
Business owners have the option to be member-managed or manager-managed. This means that LLC members can take a full and active role in regular business operations or they may choose to designate a manager or managers to handle day to day responsibilities.
There could be one manager or multiple, and the manager could be a member (but need not be). If the manager isn't a member, they are called a professional manager. The managers act as a board of directors would for a corporation. Manager management is appropriate when an LLC has investors.
Moreover, management of a limited liability company can either be performed by all of the members or by a professional manager who is hired by the LLC's members. In Florida, there is no state requirement for an LLC to be member-management.
The only way a member of an LLC may be removed is by submitting a written notice of withdrawal unless the articles of organization or the operating agreement for the LLC in question details a procedure for members to vote out others.
A manager may be removed at any time without notice or cause by consent of the members holding more than 50 percent of the then-current percentage or other interest in the profits of the LLC.
In a member-managed LLC, all members (owners) are involved in decision-making. If you are a single-member LLC, youthe ownerare the manager. Major decisions, such as loans and contracts, require a majority of the vote for approval.