Baltimore, MD asked in Business Law for Maryland

Q: How to transfer single owner LLC to multi owner LLC?

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1 Lawyer Answer
Cedulie Renee Laumann
Cedulie Renee Laumann
Answered
  • Crownsville, MD
  • Licensed in Maryland

A: It isn't clear whether you want to transfer (sell) one LLC to another LLC or whether you simply want to add owners/members to an existing LLC. Assuming you are asking about the second scenario, it is generally a matter of voting to add members and issuing membership certificates for same, consistent with the Operating Agreement. The Operating Agreement may possibly need amendment. Note that anytime new investors/owners are solicited a small business should be careful to make sure they are not offering a sale of securities for which registration is required.

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