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Can an LLC Member Not Have a Vote?

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It is possible to specify the rights of members in the LLC Operating Agreement. It is possible to use the Operating Agreement to create separate classes of members, each with different economic interests but not voting rights. However, you may not retain voting rights for some members of one class, and none for others. You […]

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Can a Personal Representative Designated in a Will Act Before the Principal’s Death?

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A Personal Representative has no power to do anything before death. Only a Power of Attorney or court appointed guardian can act during the principal’s lifetime. As such, it is important to meet with a lawyer and execute the proper Power of Attorney documents before such an individual is needed, rather than later when issues […]

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Problem Resolution Within an LLC

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Partners at the head of an LLC won’t always agree on the best way to run the business. The best solution for a situation where partners can’t come to a compromise is to have a well drafted LLC operating agreement in place from the start. Drafting an agreement with clauses that instruct the partners how […]

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Recorded Deed Notice Letters

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Beware of solicitation letters titled “Recorded Deed Notice” attempting to provide you with a copy of your deed and property assessment profile for a fee. These letters are scams. Your attorney will provide you with an e-copy of your deed at the end of the deed preparation process. Companies send these to everyone who had […]

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Business Name vs. Trade Name

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A business name is the official, legal name of the business entity, be it a partnership, LLC, or Corporation. You use your business name on government forms and applications. Limited partnerships, LLCs, and corporations establish their legal names when registering the business structure. The legal name is part of your articles of incorporation. Sometimes, a […]

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Adding Spouses to the Deed of a Bequeathed Property

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The deceased bequeaths house to family member in their will. The family member wants to add their spouse to the deed as Tenant by Entireties (T by E). The best way to handle this situation is to draft and file separate deeds, showing the clear chain of title. The reason for this is that there […]

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Removing an LLC Member

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The easiest way change the LLC structure is to have the leaving members consent to terminate their status as members, then amend or draft a new LLC Operating Agreement deleting their names. You should review the filings with the secretary of state to make sure none of the removed partners signed any. If they did, […]

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How Multiple People Can Hold Title in the Same Property in Maryland

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There are three major types of concurrent ownership in Maryland that can be written into a deed: Tenants in Common each own a share of the property as an individual with no right of survivorship. Therefore, if one co-tenant dies, his interest passes to his own heirs, not the other co-tenants. In this type of […]

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Questions to Consider When Writing an LLC Operating Agreement

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Here are some questions to consider before starting your LLC and forming your Operating Agreement. Start Up: How much money is each member contributing to starting the business? Will someone contribute more? What if you need more money? Will you open the doors to outside investment? Will the members contribute more money? What is each […]

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How Do I Form an LLC in Maryland?

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To form an LLC in Maryland your attorney should first file Articles of Organization and a $120 filing fee by mail, or on-line, with the Maryland Department of Assessments and Taxation. The Articles of Organization must include the following information: 1) LLC name and address; 2) Purpose of LLC; 3) Registered agent’s name, address and […]

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