What can I do when logged in?

You can submit new articles, so we can make unique versions of them and distribute them for you.
If you want to simply publish the same article on 800 websites, you can tell us to do that.
You can see the archive and current status of all your article distributions.
You can order any number of high-quality articles - just let us know your keywords.
You can browse the archive of all the articles we have written for you.
You can order our Complete Service (10 high-quality articles plus 10 article distributions).
You can purchase more credits for our services and check your affiliate earnings.
Much more ...

SpinDistribute.com Article Directory

The following article was published in our article directory on August 30, 2012.
Learn more about SpinDistribute Article Distribution System.

Change the Ownership of an LLC

Article Category: Legal

Author Name: John Pena

Doing business involves a couple of risks. As a business executive, you must be prepared for the worst case scenario. For instance, there may be times that even the major shareholder and owner of the company. Or there may be some other instance that would require shifting the ownership of the company to another person.

If you are involved with a limited liability corporation in California and you want to change the ownership of your California LLC, here are the steps that you should follow.

1. Economic interest rules

For one, you should take a close look at the economic interest rules that you will find in the articles of organization of your company as well as in the operating agreement. An economic interest refers to the interest in the profits or gains of your business. You have to take note though that this is apart from the interests of the management or membership. However, it does allow the holder of the interest to take shares of money that were made by the business.

In this regard, you must know that all the LLCs in California are required to file articles of organization when the corporation was put up. Then the operating agreement establishes the rules for your LLC. More so, this can include the rules regarding the assignment or specification of economic interests. In fact, this is stated in Section 17301 of the California Corporations Code.

2. Follow the articles organization or operating agreement

Then if there is an assignment of economic interest stipulated either in the articles of organization or the operating agreement, you will have to follow that. If there is none, then the California LLC Law dictates that a member of the corporation who has economic interests may freely assign the latter to another person who or she wants. But that person still does not become an owner or even member of the company.

3. Assign the rights

The next step would be voting. The members must vote on the assignment of the membership rights. This is what happens if the articles or the operating agreement has no rules regarding this. More than that, the members of the corporation also have the power to induct a new member of the LLC through a majority vote.

4. Incorporate the changes in the paperwork

Finally, you will then have to change the list of holders of economic interest. This is to allow the changes made by the voting done earlier. The same is to be done to the articles of organization as well as the operating agreement.

In this regard, you have to make it a practice to have a contract in black and white to reflect the changes that you made. This way, you will not have legal problems in the long run. It is best to talk to the company lawyer about this so he or she can help you in writing the contract of your California LLC.

Keywords: california llc, california incorporation

Learn more about SpinDistribute Article Distribution System. We also offer a Pro Article Writing Service to everyone who needs premium quality well-researched articles.

SpinDistribute.com Network

Each article you submit at SpinDistribute.com is sent through our innovative Article Distribution System to our network of more than 1840 publishers - about 55% of them are high-quality article directories, 30% of them are niche blogs and 15% of them are other content-rich websites.

To achieve the best possible success we only publish your article to most related websites. This means your article will show up on approximately 640 - 880 most related websites which will give you great SEO results.

We also offer a separate Professional Article Writing Service to everyone who's looking for high quality web content and well researched unique articles.