Montana Limited Liability Company
A limited liability company (“LLC”) is a legal entity distinct from its individual members, which provides its members and their personal assets with shelter from liability for the debts or obligations of the LLC. While an LLC limits the liability of the member or members, unlike a “corporate” organization scheme, it allows flexibility in management, and the pass through tax advantages of a partnership. An LLC may be organized for any lawful business purpose except banking or insurance.
Under Montana law, one or more persons may form a limited liability company by signing and filing articles of organization with the secretary of state. Articles of organization must state (1) the name of the LLC, (2) whether the company is a term company and, if so, the term specified, (3) the complete street address of the LLC, (4) the name and address of the registered agent, (5) a statement as to management by member or manager and the name and address of the member or manager, (6) whether one or more members of the LLC are to be liable for the LLCs debts and obligations, (7) if the LLC is a professional limited liability company, a statement to that effect and a statement of the professional service or services it will render, and (8) any other provisions not inconsistent with the law, that the members elect to set out in the articles.
An LLC is required to pay a one-time filing fee upon its initial organization with the Secretary of State’s office and an annual renewal fee. The LLC’s existence, and the protection thereby afforded, begins when the articles of organization are filed with the Montana Secretary of State’s office.
If you are considering starting a new business, and possibly organizing it as a limited liability company, you should consult with a reputable law firm to guide you through, not only the original organization of the business, but also the various issues that will arise as your business grows.
Luxan & Murfitt, PLLP, offices are located on the fourth floor of the Montana Club Building in Helena, Montana. The information provided in these web pages is offered for informational purposes only; it is not offered as and does not constitute legal advice. Luxan & Murfitt, PLLP, does not seek to represent you based upon your visit or review of this web page site, and the transmission of information from this site is not intended to create nor does it create an attorney-client relationship between Luxan & Murfitt, PLLP, and you. You should not make legal hiring decisions based upon brochures, advertising, or other promotional materials.