Skip to content

Minimum Age to be a Member of LLC

Answered by: 

Question: 
What is the minimum age a person can be to be a member of an LLC and if it is less that 18, does it impact that persons ability to borrow on behalf of the LLC?
Answer: 

This is all subject to state law. For many states, if a minor is an owner of a business, the law may require that a guardian be appointed to act on the minor's behalf until they reach the age of majority. If you're not sure who has authority to do what, contact the bank's legal counsel to review state law and the LLC Operating Agreement.

First published on 09/15/2019

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics