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#2199686 - 12/03/18 08:06 PM Non-Profit LLC Beneficial Ownership
Goldrose Offline
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Joined: Sep 2018
Posts: 66
Am I correct in thinking that a Non-profit LLC would only need the control prong, since you can only be granted Non-Profit LLC if the member(s) are Non-profit?

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#2199702 - 12/03/18 10:11 PM Re: Non-Profit LLC Beneficial Ownership Goldrose
RockChucker, CAMS Offline
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Joined: Jul 2013
Posts: 1,700
The Country
Non-profits are exempt from the ownership prong, regardless of structure. I just recommend some due diligence to confirm they are non-profit.
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#2199716 - 12/04/18 12:53 AM Re: Non-Profit LLC Beneficial Ownership Goldrose
TryingtoComply Offline
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Joined: Apr 2013
Posts: 2,211
The West
I've never see a non-profit LLC.
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#2199926 - 12/05/18 08:09 PM Re: Non-Profit LLC Beneficial Ownership Goldrose
BuckDog Offline
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Joined: Jun 2006
Posts: 123
Tennessee
If the non-profit is registered with the Secretary of State, wouldn't a BO Form be required with the Control Person identified? I don't know that I've seen an LLC but have seen Non Profit Corporations.

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#2200190 - 12/08/18 01:02 AM Re: Non-Profit LLC Beneficial Ownership Goldrose
John Burnett Offline
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John Burnett
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Cape Cod
There are a lot of non-profit corporations. In fact, you may find that most of them are, because the people who run them don't want to be saddled with liabilities if something goes wrong. Think of Habitat for Humanity building homes without liability protection for its board members. So if the non-profit is registered with the SOS as a corporation, LLC, etc., it's a legal entity customer and you'll need certification of a control person (since there are no owners and since the reg says you need to get the control person only).
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