How Does the LLC Identify Itself?
The LLC must hold itself out to the public at all times as a Limited Liability Company. All letterheads, billheads, advertising, business cards, and telephone listings should use the LLC’s registered name, such as the followed by the words, “a Wyoming Limited Liability Company,” “Ltd.,” or “LLC” to indicate its status.
How Does the LLC Conduct Business?
A Limited Liability Company acts through its Members, Manager if any, or through agents properly appointed. When action is taken to sign a letter, contract, or check for the LLC, or when the name of any person is printed on a business card, you should make certain that the capacity of the individual signing or named, is clearly indicated. In virtually every, case that person must be either be a Manager, all the Members or as otherwise agreed, or an authorized business agent. Agreements and other documents for the LLC should be signed in such a way as to identify the LLC, the signor, and their authority to sign for the entity. Do not sign in your individual capacity or you might acquire personal liability! Learn more about forming WY Limited Liability Corporations. We also have resource articles on their privacy and other benefits
What About LLC Bank Accounts?
Establish a checking account for the LLC. That account, and any other accounts of the LLC, should be established in the LLC’s name. The appropriate responsible LLC officials in their official capacities and on behalf of the LLC should execute signature cards for the accounts.
Always observe the distinction between Member, Manager, or individual signatures, even in cases where the individual involved is required to be a signatory (for example, where an individual will be a guarantor of the LLC’s obligations and will sign in his or her individual capacity).