Not every decision made in an LLC will require a meeting of the managers and members. When there is an agreement about the passage of a resolution, it may make sense to use an LLC Consent in Lieu of a Meeting as a shortcut that takes care of everything.
Naturally, there will be times when consent is not favorable over a meeting. But the fact remains that there’s an option just to sign an LLC Consent in Lieu of a Meeting.
Formal meetings are necessary protocols for companies big and small. For an LLC, when the members and managers agree with a decision, a meeting is unnecessary.
For example, if the decision is about a new member joining the LLC and there isn’t any objection, using an LLC Consent in Lieu of a Meeting will expedite that change.
Depending on your state, an LLC Consent in Lieu of a Meeting may also be known as:
Any LLC with more than one member may choose to use an LLC Consent in Lieu of a Meeting. More commonly, however, this pertains to LLCs with many members that can be particularly challenging to gather in the same place and at the same time. Going with an LLC Consent in Lieu of a Meeting will also result in less paperwork for the LLC but will still constitute a record of the decision.
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Having an LLC Consent in Lieu of a Meeting form ready to go is beneficial for any multi-member LLC. Avoiding mistakes is crucial, so it’s best to have one expertly created for you.
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Before all the LLC members who are giving their consent proceed to sign the document, make sure to review it carefully. If there’s any ambiguity about how many members must provide their consent to pass a resolution, make sure to consult the company’s governing documents and also the relevant state law. You don’t have to notarize the LLC Consent in Lieu of a Meeting as it’s an internal document.
After the LLC Consent in Lieu of Meeting is signed, it’s essential to keep it in the company’s records. It’s best to have a hard copy and digital copy on hand. Also, all members and managers of the LLC should have a copy of the consent.
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