JTM Developments

A detailed Summary of JTM Developments

I believe that JTM Developments should be classified as a Limited Liability Company. This will give the company plenty of room to grow without any restrictions. It will also give the members the advantage of having limited liability to only the amount they invested in the company.

The first step is to set up the LLC. This is accomplished at the state level in most states. They must register with the secretary of state. They must also submit an operating agreement.

The articles of organization are used to specify certain important information. First they must determine the name of the company and the ending it must have such as LLC or LC. They will also have to provide a registered agent for the company. The registered agent must handle the legal documents that the company might receive. They also must state a principle place of business.

important part of the articles of organization is how the company will be run. The company can be run by, member-management or manager-management. If they are run by member-management then members in the company take care of all the management responsibilities. If it is manager-management then they can bring in someone outside the company to take care of the management responsibilities.

In the articles there can be provisions set for how the voting rights will be divided up among the members. Most LLCs usually provide that the voting rights are given out to the members according to the amount of capital they each have in the company.

The articles can also state how the ownership of the company is divided up. This governs how ownership will be transferred around should something happen to one of the members. If one of the members should pass away this part of the articl

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Approximate Word count = 593
Approximate Pages = 2 (250 words per page double spaced)

Category: Miscellaneous

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