pafinanceguy
New Member
- 5
Hello there!
I have the opportunity for "MyInvestCo LLC" to obtain a minority interest in an "InsureCo LLC" agency and am doing a bit of research to orient myself before engaging professionals.
Are there any best practices or restrictions that folks who might have done something similar before can suggest from a legal and compliance perspective? For example, are there ownership thresholds (i.e. 10%) that would cause extra compliance headaches for InsureCo LLC? It would seem so:
"Identify all owners with 10% interest or voting interest, partners, officers, and directors of the business entity, or members or managers of a limited liability company"
OR
https://www.mayerbrown.com/-/media/...ulatory_corner_acquiring_ownershipjul2019.pdf
To be clear, I am not asking for legal advice. I'm asking for any guidance that seasoned owners might be able to provide to help me jump-start my research. Any hat tips towards what we should look (out) for or consider to ensure we are doing everything 100% above board?
Thank you!
I have the opportunity for "MyInvestCo LLC" to obtain a minority interest in an "InsureCo LLC" agency and am doing a bit of research to orient myself before engaging professionals.
Are there any best practices or restrictions that folks who might have done something similar before can suggest from a legal and compliance perspective? For example, are there ownership thresholds (i.e. 10%) that would cause extra compliance headaches for InsureCo LLC? It would seem so:
"Identify all owners with 10% interest or voting interest, partners, officers, and directors of the business entity, or members or managers of a limited liability company"
OR
https://www.mayerbrown.com/-/media/...ulatory_corner_acquiring_ownershipjul2019.pdf
To be clear, I am not asking for legal advice. I'm asking for any guidance that seasoned owners might be able to provide to help me jump-start my research. Any hat tips towards what we should look (out) for or consider to ensure we are doing everything 100% above board?
Thank you!
