How can you prove ownership if the public record doesn’t contain names?
Forming a Delaware or Wyoming LLC or Corporation through a Registered Agent ensures maximum confidentiality. Typically, only the company name, Registered Agent‘s name and address, filing date, and company file number appear on the Certificate of Formation or Incorporation.
The Operating Agreement for an LLC serves as the primary document to establish ownership and operational guidelines:
- It outlines each member’s ownership percentage.
- It details how profits, losses, and expenses are allocated.
- It defines the authority of members in managing daily operations.
- It specifies voting rights for key decisions.
- It addresses conditions for member withdrawal and the valuation of their economic interest.
- It governs the sale or pledge of a member’s interest.
- It includes provisions for member changes due to death, disability, or admission of new members.
- It outlines procedures for LLC dissolution and member claims upon liquidation.
- It may include indemnification rights related to business-related lawsuits.
Notably, Delaware does not require the LLC Operating Agreement to be filed or disclosed in public records.
Do you have any other questions?
If you’re concerned about proving ownership when public records don’t list individual names, the LLC Operating Agreement is the key document. It defines ownership percentages, profit allocations, member authority, voting rights, and more. This private document helps establish clear ownership and operational guidelines without public disclosure.
For more details, check out the Startxpress Help Center and Blog. If you need assistance, contact us at support@startxpress.io! We’re here to assist you in navigating business formation and ensuring your operations run smoothly.
Related Articles
Was this helpful?
0 / 0