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LSDefine

Simple English definitions for legal terms

member

Read a random definition: cyclical

A quick definition of member:

A member is someone who owns a part of a company called a limited liability company (LLC). They have some control over the company, but they are not responsible for any debts or problems the company might have. Members can help run the company or just give money or property to become a member. When someone joins or leaves the company, it doesn't mean the company will stop existing.

A more thorough explanation:

A member is a person who has ownership in a limited liability company (LLC). This means they have a share in the company's profits and losses, but their liability is limited to the amount of their investment. Members have a say in how the company is run, but they are not personally responsible for any debts or legal issues the company may face.

For example, if John invests $10,000 in an LLC and becomes a member, he will receive a portion of the company's profits and losses. However, if the company is sued and owes $50,000, John's personal assets are not at risk beyond his initial investment.

Members can contribute to the company in different ways, such as providing professional services, cash, or property. They can also manage the company themselves or hire a professional team to do so. When a member joins or leaves the LLC, it does not affect the company's existence.

Within an organization, a member can also refer to any person who has rights and responsibilities. For example, a member of a sports team has the right to play in games and the responsibility to attend practices and follow team rules.

Megan's Law | Memorandum

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General chat about the legal profession.
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TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
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