LLC Glossary

A limited liability company may (but is not required to) have officers run the day-to-day operations. Officers serve under the supervision of either (1) the managers, if the LLC is manager-managed, or (2) the members if the LLC is member-managed. Members or managers may also be officers. There is no limit on the maximum number of officers, and one person can hold more than one office. In fact, the same person can hold all offices. If you have two or more persons who will act as officers, the president and the secretary should not be the same person.

Additional officers who may be elected include, but are not limited to: Vice President, Assistant Treasurer, Controller, Assistant Secretary, Chief Operating Officer, Chief Technology Officer and Chief Administrative Officer.