{"id":410,"date":"2011-10-28T11:27:04","date_gmt":"2011-10-28T15:27:04","guid":{"rendered":"http:\/\/www.dev.atiqbd.com\/minor-owned-llc-manager-contracts\/"},"modified":"2015-07-30T13:17:04","modified_gmt":"2015-07-30T13:17:04","slug":"minor-owned-llc-manager-contracts","status":"publish","type":"post","link":"https:\/\/www.standardlegal.com\/blog\/minor-owned-llc-manager-contracts","title":{"rendered":"Can a Minor Create a Managed LLC to Overcome Age Restrictions for Contract Executions?"},"content":{"rendered":"

Of course, Limited Liability Companies are state-based constructs, so state law would apply to any answer.<\/p>\n

Also at issue is the ability of a minor to enter into contracts or take other actions to bind the LLC, as many contracts entered into with minors and third parties are void or voidable.\u00a0 A person who is under the age of majority may have insufficient legal ability to sign the Articles of Organization, thereby requiring an adult ‘organizer’ to execute the Articles.<\/p>\n

Let’s examine a specific state example.<\/p>\n

For example, in Florida there does not appear to be a uniform state wide restriction on the age of Members of an LLC.<\/p>\n

Section 608.405 of the Florida statutes provide that “…[o]ne or more persons may form a limited liability company.”\u00a0 The definition of “person” is “an individual or an entity.”\u00a0 A “Member” (who is an owner of an LLC interest) is defined to mean “any person who has been admitted to a limited liability company as a member in accordance with this chapter.”<\/p>\n

As such, depending on the State in which the LLC is formed, a minor can, in fact, be a Member of the LLC.<\/p>\n

However, if the LLC chooses to have Managers or other Members who are over the age of majority (e.g. 18 years old), then this issue may be moot, as these persons would have the legal authority to take action or enter into contracts without concern of the validity or enforceability of the same.<\/p>\n

To easily and affordably create a valid LLC for filing in the state of FL, see Standard Legal’s Do It Yourself LLC Legal Forms Software<\/a> or Standard Legal’s Limited Liability Company Document Preparation Service<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Of course, Limited Liability Companies are state-based constructs, so state law would apply to any answer. Also at issue is the ability of a minor to enter into contracts or take other actions to bind the LLC, as many contracts entered into with minors and third parties are void or voidable.\u00a0 A person who is … Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":["post-410","post","type-post","status-publish","format-standard","hentry","category-limited-liability-company-llc-questions"],"yoast_head":"\nCan a Minor Create a Managed LLC to Overcome Age Restrictions for Contract Executions? - Ask Standard Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.standardlegal.com\/blog\/minor-owned-llc-manager-contracts\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can a Minor Create a Managed LLC to Overcome Age Restrictions for Contract Executions? - Ask Standard Legal\" \/>\n<meta property=\"og:description\" content=\"Of course, Limited Liability Companies are state-based constructs, so state law would apply to any answer. 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