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In an LLC, the units of ownership are not known as shares of 'stock'. The majority of the LLC's agreement delegates a particular number of ?membership interests? or ?membership units?. These LLC shares or units may also be further broken down into two types: the voting units and the non-voting units.
To fill out a stock certificate, you fill in the name of the shareholder, the name of the corporation, the number of shares represented by the certificate, the date, and possibly an identification number. There is also a space for a corporate officer to sign on behalf of the corporation and to affix the corporate seal.
A limited liability company (LLC) cannot issue shares of stock. An LLC is a business entity structured to have either a single or multiple owners, who are referred to as the LLC's members.
Limited liability companies (LLCs) do not have stock, nor can they issue it. Despite this fact, LLCs may have advantages over corporations, depending on your particular business needs and goals.
Does an LLC have shares? No. Only businesses structured as a corporation issue shares. With a limited liability company, ownership is expressed by percentage and membership units.