Managers*

2015 07 01 | Category: Offshore Glossary

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Managers*
The individuals who are responsible for the maintenance, administration and management of the affairs of a limited liability company (LLC). The actions of the managers are very similar to the board of directors of a corporation. In order for an LLC to be controlled by managers, this fact must be noted in the articles of organization. In most states, the managers serve a particular term and report to and serve at the discretion of the members. In some states, the members of an LLC may also serve as the managers.


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