In many states, an LLC is not required to hold the simple member/manager meetings in order to maintain the protection provided against liability as are required by officers/directors and shareholders of corporations. For example, California does not require member/manager meetings unless the LLC’s Articles of Organization specifically require them.

In most cases, voting rights are proportional to the percentage of membership(“ownership”) interest. However, the articles of organization or operating agreement may establish a different set of criteria for voting rights

An LLC is a combination of the best aspects of a partnership and a corporation. LLCs provide liability protection for member/owners (with a few exceptions), establishing a separate entity from the individual member/owners. However, an LLC does not require all the formalities of its managers and members that are required for a corporation. Additionally, many states allow the formation of single-member LLCs.

An LLC is owned by its members. The business organization may resemble either a partnership or a corporation depending on who exercises managerial responsibility. An LLC resembles a partnership if managers are not used. In this case the members have a direct say in the managing and day to day activities of the company. An LLC would resemble a corporation if its members choose to use managers to administer to the day to day activities of the company because the members will not typically participate in the day to day management.