May 29, 2014. So you own a Limited Liability Company, Congratulations! Do you have proof of your ownership? You should have a unit certificate much like a stock certificate to represent your ownership in the LLC. The image below is an example of a certificate evidencing ownership of limited liability company units (commonly referred to as shares) and is to be completed by filling in the lettered blanks as follows:
B—Date of organization
D—Number of units issued to certificate holder
F—Total number of units authorized for class issued to certificate holder
G—Name of certificate holder
H—Number of units or shares issued to certificate holder, written out
I—Day (e.g., 5th)
L & M—Names of managers or officers signing the certificate
- There should be a restrictive legend on the back of every certificate.
- The managers should approve all share issuances, and a record of the approval should be kept in the minutes with the LLC records.
- All share issuances give rise to the need for a consideration of securities laws and appropriate notice filings.
LLC Certificate Face