How is an LLC managed?
An LLC may be managed by its members (owners) or by selected managers. If the LLC is to be managed by its members, it operates much like a partnership. Each member has an equal say in the decision making process of the company or alternatively, as you specify in the LLC’s operating agreement. If the members choose, they may elect a manager or managers to act in a capacity similar to a corporation’s board of directors. These managers are in charge of the affairs of the corporation. Member management is the normal default rule of NH state law. This means that if managers are not selected in the articles of organization the members will direct the affairs of the LLC.
