Why Key LLC Decisions Should Be Recorded
When to Consult a Professional
Organize Your LLC Records
When to Use LLC Meetings, Minutes, and Written Consents
Three Ways to Make and Document Formal LLC Decisions
Questions and Answers About LLC Meetings, Minutes, and Written Consents
Preliminary Steps Before Holding an LLC Meeting
How to Hold an LLC Meeting
Call and Provide Notice of the Meeting
Prepare an Agenda for the Meeting
Prepare Meeting Resolutions in Advance
Get Together to Hold the Meeting
Hold a Meeting in Cyberspace if You Have the Equipment and Know-How
Appoint a Chairperson and Secretary
Chairperson Calls the Meeting to Order
Secretary Determines Whether a Quorum is Present
Secretary Reads Minutes of or Summarizes Business of Last Meeting
Handle Any Unfinished Business
Officers and Committees Present Reports
Introduce and Discuss Specific Proposals
Take the Votes of Managers or Members
How to Prepare Written Minutes of LLC Meetings
Preparing the Minutes Form
How to Hold a Paper LLC Meeting
Decide Whether to Hold a Paper Meeting
How to Prepare Minutes of Paper LLC Meetings
How to Take Action by Written Consent Without an LLC Meeting
Check Your Operating Agreement for Any Written Consent Rules
Prepare Written Consent Form
Place Signed Consent Forms in Your LLC Records Binder
Standard LLC Business Resolutions
When to Use Resolutions Included in This Chapter
Assumed or "Fictious" LLC Name Resolution
Resolution to Approve an LLC Contract
Real Property Resolutions
Delegation of Authority and Approval of Individual Contracts
Certification, Affidavit, or Acknowledgment of LLC Decision or Document
LLC Corporate Tax Treatment Election
Resolution for Approval of Independent Audit
Resolutions to Amend the LLC Articles and Operating Agreement
Decide Whether You Need to Amend Your Articles or Your Operating Agreement
Amending Articles of Organization
Amending the LLC Operating Agreement
LLC Membership Resolutions
Distributions of LLC Profits to Members
Additional Capital Contributions by Members
Withdrawal of LLC Members
LLC Hiring and Compensation Resolutions
Approving LLC Salaries of Members and Employees
Using Independent Contractors
Appointing and Paying LLC Officers
Compensation for Attending LLC Meetings
Approval of Indemnification for LLC Members, Managers, Officers, and Employees
Loans to the LLC by Members and Other Insiders
Promissory Notes Overview
Promissory Notes for Loans to LLC
Overview of Loans to Insiders
Legal Considerations for Loans Issued to Insiders
Tax Considerations and Consequences of Insider Loans
Resolution for LLC and Member Approval of LLC Loans to Insiders
Promissory Notes for Loans by LLC
Release of Promissory Note
Self-Interested Business Dealings Between the LLC and Its Members or Managers
Legal Duties Owed by Members and Managers
Resolution for Approval of Member of Manager Self-Interested Business Deals
Lawyers, Tax Specialists, and Legal Research
How to Find the Right Lawyer
Finding the Right Tax Adviser
How to Do Your Own Legal Research
2003 Federal Tax Act Summary.