Hacker News new | ask | show | jobs
by wombat_trouble 1252 days ago
What would that accomplish? Most LLCs are created (incorporated) by a lawyer who then cedes control to the intended owners. Even if you had a requirement for a US person, you'd just have figureheads collecting some nominal salary. Plenty of low-income folks would be eager to get an extra $500 a month for doing nothing.

For what it's worth, the formation of an LLC is a state affair, and every state has its own rules around requirements, reporting, transparency, etc. Most states keep the paperwork public; some states don't, but these are not the states where housing shortages are all that profound.
1 comments
positr0n 1252 days ago
> Plenty of low-income folks would be eager to get an extra $500 a month for doing nothing.

If this hypothetical low income person owned the LLC so that others could operate it, nothing is stopping them from cleaning out the LLC's bank account whenever they want since they own it!

link
wombat_trouble 1252 days ago
It doesn't work that way. An LLC is governed by an operating agreement, and that agreement can specify what actions needs approval from whom. You can have an LLC that is owned by one person and managed by another, and yet another party collects proceeds... sky's the limit, if it's not otherwise illegal, it's fair game.
link