What is a "Manager" of a Limited Liability Company?
The "manager" of a limited liability company (LLC) is the designated individual responsible for the management of the LLC. LLC's may have more than one manager and mangers may also be members. When an LLC is established, the "operating agreement" for the LLC typically designates and identifies the manager(s). When comparing LLC's to corporations LLC "managers" are like the "officers" of a corporation.
When dealing with closely held LLC's and companies the owners of the LLC are typically also the managers who operate the LLC's business. Likewise the owners and shareholders of a corporation are typically also the officers who run the corporation.
To learn more about the rights of LLC members order a complimentary copy of the Partnership Dispute Guide and visit Creating a Partnership or Shareholder Agreement.
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