My question involves business law in the state of: Illinois
I have a client an with an LLC that has 2 members. The LLC is manager-managed and 1 of the members is the sole manager. Both members would now like to have equal management authority. Can it stay a manager-managed LLC where both (all) members are managers or if since all members are going to have management authority must it be amended to a member-managed LLC. If it can stay manager-managed, I can avoid filing Articles of Amendment. (I am a younger attorney and was hoping a fellow attorney might be willing to answer this for me as I have been unable to find any guidance elsewhere). Thank you.
I have a client an with an LLC that has 2 members. The LLC is manager-managed and 1 of the members is the sole manager. Both members would now like to have equal management authority. Can it stay a manager-managed LLC where both (all) members are managers or if since all members are going to have management authority must it be amended to a member-managed LLC. If it can stay manager-managed, I can avoid filing Articles of Amendment. (I am a younger attorney and was hoping a fellow attorney might be willing to answer this for me as I have been unable to find any guidance elsewhere). Thank you.
Can a Manager-Managed LLC Have All of the Members As Managers
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