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Manager Managed
Popular where 1 or more of the owners will act as “Passive” investors
Some owners may be “Passive” while others may be designated as “Managers”
Some owners may be designated as Managers, some “non-owners” may be designated as managers, or any combination thereof may be designated.
Member Managed
The most popular structure for LLCs with 1 or more owners.
ALL Owners have control over the daily operations of the business.
The owners have authority to bind the LLC by signing for a loan, negotiating and executing contracts, and managing other daily operations of the business.
