kristinscott
Junior Member
What is the name of your state (only U.S. law)? WA
I registered an LLC in Washington State initially to be for an investment club (group of people who pool their money together and decide to invest in stocks, etc.) and am now considering making it an investment company. Is such a thing legal? If in the Operating Agreement I state that the purpose of the LLC is to invest in securities, we're issuing x units in the company that will hopefully rise in value as the securities do, is that legal? I know there's a 75M hedgefund requirement and similar restrictions for mutual funds, but his doesn't fit the bill of either.
Warren Buffet operates berkshire hathaway as a corp. and its share values fluctuate with his underlying investments; is that possible/legal to do with llc units? What's the best language to stipulate this in the operating agreement, if possible?
I registered an LLC in Washington State initially to be for an investment club (group of people who pool their money together and decide to invest in stocks, etc.) and am now considering making it an investment company. Is such a thing legal? If in the Operating Agreement I state that the purpose of the LLC is to invest in securities, we're issuing x units in the company that will hopefully rise in value as the securities do, is that legal? I know there's a 75M hedgefund requirement and similar restrictions for mutual funds, but his doesn't fit the bill of either.
Warren Buffet operates berkshire hathaway as a corp. and its share values fluctuate with his underlying investments; is that possible/legal to do with llc units? What's the best language to stipulate this in the operating agreement, if possible?