Posted by Eric - GA on October 10, 2003 at 18:24:25:
Does your secretary of state maintain a list of all registered entities and their authorized agents? If so, print out that webpage and send it in.
Eric - GA
Urgent question re: signing at closing - Posted by JP
Posted by JP on October 10, 2003 at 15:41:32:
I posted this on the legal forum but since it’s pretty dead over there and I need a quick answer I figured I’d try posting here too. Thanks for any input!
I am buying a property via my LLC. My LLC is manager managed, and I am the manager. The title company is requesting “a copy of the document that shows who is authorized to sign on behalf of the LLC”. Well, that would be the Operating Agreement for the LLC, but there is no way that I am going to provide them with a copy of the entire Operating Agreement. What else can I provide them to satisfy their request? Or do I need to find another title company? Help!
Re: Urgent question re: signing at closing - Posted by answerman
Posted by answerman on October 10, 2003 at 22:23:47:
The title company is requesting “a copy of the document that shows who is authorized to sign on behalf of the LLC”.
Most entities authorize certain actions, or certain parties to act in their behalf via a “RESOLUTION”. For example the board of directors for a corporation would pass a resolution authorizing the President of the corporation to take all necessary steps to borrow X amount of dollars from X bank in the name of the corporation. Such a resolution would be signed by members of the board of directors thus empowering the president of the corporation to act.
Such is the case in your particular situation. The members of your LLC need to have a meeting, agree, and resolve to authorize you to sign in behalf of the LLC for this particular transaction or for all transactions. Such a RESOLUTION would be in writing on paper, signed by all the members of the LLC. Better also if the Resolution also contains the seal of the LLC.
Also read your LLC’s Operating Agreement and make sure that the RESOLUTION is passed in complete compliance with the provisions of the Operating Agreement.