Initial manager consent
This Initial Manger Consent is a very important document where the mangers of the LLC adopt the following resolutions:
- Ratifies the initial formation
- Establishes a minute book
- Appoints officers to positions like President, CEO, Secretary, etc.
- Issues ownership to shareholders
- Adopts any equity incentive plans
- Ratifies indemnification agreements, employment agreements, and consulting agreements
- Grants officers the ability to open bank accounts, write checks, and otherwise manage the company’s fiscal affairs
- Authorizes reimbursements
- Establishes the formal accounting year of the company
- Establishes the address of the company’s principal office
- Authorizes the company to file for a Federal Tax ID or Employer Identification Number
The document can be quite long and involves a significant degree of customization to the needs of those forming the company.
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