LLC: The Power of a Manager
from Abdulaziz, Grossbart & Rudman
Limited liability companies, more commonly referred to as LLCs, are becoming the business structure of choice, especially for developers and property owners. "A limited liability company (LLC) is a hybrid business entity formed under the Corporations Code and consisting of at least two "members" who own membership interests...the company has a legal existence separate from its members. Its form provides members with limited liability to the same extent enjoyed by corporate shareholders."