- Organizers file the
articles of
organization, along with the required
processing fees, with the
North
Dakota Secretary of State. Once the filing is officially
approved, the certificate of organization is issued, and
the business begins its existence as a separate legal
entity. The Articles may specify a later effective date
which is not more than ninety days after the date on
which the certificate of organization is issued.
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First,
choose the name of your LLC. The name must be
clearly different from the name of another
business. So, at no extra charge,
Proactive Management will
perform three name searches to determine if your
desired name(s) are available.
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This
name must also include "limited liability company" or any
abbreviation thereof such as "LLC, " or "L.L.C."
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The
name must not include "corporation," "incorporated,"
"limited partnership," "limited liability partnership," "limited
liability limited partnership" or any abbreviation of
these words
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May not be a farming
limited liability corporation unless
- Must not have more that
fifteen members
- Each member must be
related to the others within one degree of
kinship: parent, son, daughter, stepson, stepdaughter,
grandparent, grandson, granddaughter, brother, sister,
uncle, aunt, nephew, niece, great-grandparent,
great-grandchild, first cousin, or the spouse of a
person so related
- Each member must be
an individual, a trust for those related to every
member within the degree of kinship described
above, or the estate of a decedent who was related to
every member within the degree of kinship described
above
- Trusts and estates may
not be member if the number of beneficiaries plus
other member total more than fifteen
- Individuals who are
member must be United States citizens or permanent
resident aliens
- Governors and managers
must be actively engaged in farming or ranching
- At least one member must be an individual residing on the farm or ranch
- An annual average of
sixty-five percent of the corporation's gross income
over the last five years must be from farming or
ranching
- Income from non-farm
rent, royalties, interest, dividends, and annuities may
not exceed twenty percent of gross income
- The
Articles
of Organization will address
- The
name, address, and signature of each
organizer, all of whom must be at least 18 years old.
Only one incorporator is required.
-
Street address of the
registered
office and the name of the
registered
agent at such office. The
registered office can be the same as the
limited liability company's place of business and the
registered agent can be an officer/owner of
the LLC.
-
The names and addresses of
the first board of governors need not be included in
the Articles
- By default, the
duration of the LLC's existence is perpetual
- Unless some other statute
requires organization for a specific purpose, a
limited liability company may organize for any lawful business or
purpose. Unless otherwise indicated, an LLC has
general business purposes.
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Disclaimer -
Not Providing Legal Services -
Proactive Management, Inc. presents the
material on this site as general information only. It is not
offered as and does not constitute legal advice or legal
opinion and should not serve as a substitute for advice from
an attorney or accountant familiar with the facts of your
specific situation. We provide business formation services.
We are not a law firm and do not provide legal or tax advice
or services. We make no warranty, express or implied
concerning the accuracy or reliability of the content at
this site or at other sites to which we link.
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