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LLCs must have at least one member with ownership interest, otherwise it (or all its assets) would be abandoned property by state law
by xenadu02 9y ago
LLCs must have at least one member with ownership interest, otherwise it (or all its assets) would be abandoned property by state law
- mjw1007 9y agoI've sometimes wondered how, or whether, this is guaranteed for companies whose ownership is organised by tradeable shares. That is, whether there's anything that stops a sequence of share sales ending up in a situation where a set of companies between them own all the shares of companies in the set. (If this ever happened, presumably the last human to sell a share to one of the companies was making a mistake, but humans make mistakes all the time.) I mean, normally if you wanted to stop this sort of thing you'd do something like introduce a hierarchy of company types and say type N companies may only own shares in companies of type N+1 or higher. But I've never heard of such a rule.
- politician 9y agoWhat if it's a subsidiary of a foreign parent?
- _acme 9y agoThe foreign parent would be a member.
- politician 9y agoOf course, now what if the foreign parent was itself an AI?