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Ask a Lawyer -- LLCs
LLC Question 131
Question:
1) Can another company be a member of the LLC or it should go by personal name?
2) What is the procedure of releasing a member and adding another member? Is there any special form for the above change?
Response: Can a corporation be a member of a California LLC? Yes. California's LLC Act defines an LLC member as "any person" ... . It defines "person" as "an individual, partnership, limited partnership, trust, estate, association, corporation, limited liability company, or other entity, whether domestic or foreign." See California Corporation Code Section 17001. A very broad list of acceptable "persons" who may be LLC members.
There is no special form for withdrawing form for member withdrawal form an LLC. I discussed the issue previously under California law in this post and ask that you refer to it.
Submitted: 09/10/2007; Amit, California
Response: 09/12/2007; JJR
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