Operating Agreements and LLC entities

Discussion in 'Business & Tax Advice' started by superaff1984, May 2, 2012.

  1. superaff1984

    superaff1984 Power Member

    Jun 16, 2010
    Likes Received:
    West Los Angeles, CA
    I have an investor telling me that he does not have to be on the LLC for us to distribute profits to him. He said it's all in the operating agreement. Is this true? Because he has to stay off the LLC and confidential. He cannot be on there... But he said we can still do operating agreement where he will get profit share?

    I was thinking they had to be a member of the LLC. For them to be on the operating agreement..