Registered agent in LLC

[alezajex]

What is the name of your state? VA

who owns a business in LLC? I am registered agent, operate the business & run the business. But other people provided cash capital and write checks for business expenses. They are owner of business bank accounts.

Does registered agent become owner by default unless there is an written agreement that says who is the owner

 

[Zigner]

What is the name of your state? VA

who owns a business in LLC? I am registered agent, operate the business & run the business. But other people provided cash capital and write checks for business expenses. They are owner of business bank accounts.

Does registered agent become owner by default unless there is an written agreement that says who is the owner

The "owner" of the LLC is laid out in the operating documents.

 

[PayrollHRGuy]

registered agent

Being a Registered Agent grants no ownership rights to said agent in any state I know of.

 

[Zigner]

To be clear, simply being the registered agent for any entity does not give you ownership rights in that entity. The two are completely different things.

As for your other daily duties at the company...that's what an employee does. (Note: To "operate" a business and to "run" a business is the same thing.)

 

[quincy]

What is the name of your state? VA

who owns a business in LLC? I am registered agent, operate the business & run the business. But other people provided cash capital and write checks for business expenses. They are owner of business bank accounts.

Does registered agent become owner by default unless there is an written agreement that says who is the owner

Why do you have other people “own” the bank accounts for your business?

 

[Zigner]

Why do you have other people “own” the bank accounts for your business?

It's not his business.

 

[quincy]

It's not his business.

Ahh. I obviously missed that important fact.

 

[adjusterjack]

It's not his business.

That's not clear.

He could be a minority owner with limited duties.

 

[Zigner]

That's not clear.

He could be a minority owner with limited duties.

I would expect that he would know if he had an ownership stake, but I'll concede your point

 

[quincy]

That's not clear.

He could be a minority owner with limited duties.

I certainly read the original post as alejajex having some sort of an ownership role, which is why the bank account set-up seemed odd to me. But I accept Zigner’s interpretation as being a reasonable one.

Perhaps alejajax will return to clarify.

 

[adjusterjack]

I would expect that he would know if he had an ownership stake,

One would hope.

But we have read many posts from LLC member who had no clue.

Perhaps alejajax will return to clarify

Hope so.

 

[quincy]

... Hope so.

He’s been on the forum a lot recently. He will probably touch base here.

 

[zddoodah]

who owns a business in LLC?

Not exactly sure what this means, but the owners of an LLC are called "members."

I am registered agent, operate the business & run the business. But other people provided cash capital and write checks for business expenses. They are owner of business bank accounts.

Are you saying that the LLC's business operations use bank accounts in the names of the owners of the LLC? If so, that's really stupid. The LLC should have its own account that it owns.

Does registered agent become owner by default unless there is an written agreement that says who is the owner

No. An owner of an LLC may also be the LLC's registered agent, but the registered agent does not have to be an owner and certainly does not "become owner by default."

I would expect that he would know if he had an ownership stake

At this point, I think that any assumptions of this sort with this OP are a bad idea.

 

[quincy]

... At this point, I think that any assumptions of this sort with this OP are a bad idea.

 

[PayrollHRGuy]

It's pretty clear that the OP has no reason to think he has any ownership claim other than under his incorrect thought that being the registered agent grants ownership.

Does registered agent become owner by default unless there is an written agreement that says who is the owner