Business Services, Business Registrations, FAQs (generally applicable to all business entities) See: Business Services, Business Registrations, Limited Liability Company, General Business, FAQs Can anyone hold membership interests in a farm limited liability company?
• A trust for the benefit of an individual or a class of individuals who are related to every member of the limited liability company within specified degrees of kinship. • An estate of a decedent who was related to every member of the limited liability company within specified degrees of kinship. The members must be related within one of the following degrees of kinship: • Parent • Son • Daughter • Stepson • Stepdaughter • Grandparent • Grandson • Granddaughter • Brother • Sister • Uncle • Aunt • Nephew • Niece • Great-grandparent • Great-grandchild • First cousin; or • The spouse of a person so related. Do all members need to be actively engaged in farming or ranching? No, but at least one member must be actively engaged in farming or ranching. Do any members need to live on the farm or ranch? No, but at least one member must reside on or be actively engaged in farming or ranching. Who can serve as a governor or manager of a farm limited liability company? Only members who are active
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