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<p class="MsoNormal">Thank you. Based on that definition I see an opportunity for disaster. People add “Governors” without understanding the consequence. In a typical Member Managed LLC , adding a Governor is defined as adding a Member. This results in
elimination of the Disregarded Entity status for federal tax purposes, requires filing of a Partnership Tax return and in my fact pattern probably blows a 1031 exchange resulting in several hundred thousand in federal tax liability. Law of unintended consequences.
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<p class="MsoNormal"><b>From:</b> wsbarp-bounces@lists.wsbarppt.com <wsbarp-bounces@lists.wsbarppt.com>
<b>On Behalf Of </b>David Daniel<br>
<b>Sent:</b> Tuesday, May 3, 2022 3:04 PM<br>
<b>To:</b> WSBA Real Property Listserv <wsbarp@lists.wsbarppt.com><br>
<b>Subject:</b> Re: [WSBARP] Showing my ignorance ( again)<o:p></o:p></p>
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<p class="MsoNormal"><span style="font-size:12.0pt;font-family:"Verdana",sans-serif;color:#073763">I believe the term is defined in this context at RCW 23.95.105(12).<o:p></o:p></span></p>
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<b><span style="font-family:"Garamond",serif;color:#073763">David C. Daniel</span></b><span style="font-family:"Garamond",serif;color:#073763">, Attorney</span><span style="color:#222222"><o:p></o:p></span></p>
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<u><sup><span style="font-family:"Garamond",serif;color:#073763">____________________________________</span></sup></u><span style="font-family:"Garamond",serif;color:#073763"><br>
</span><b><span style="font-size:13.5pt;font-family:"Garamond",serif;color:#073763"> DEMCO LAW FIRM, P.S.</span></b><span style="font-family:"Garamond",serif;color:#073763"><br>
<u><sup>____________________________________</sup><br>
</u></span><b><span style="font-size:13.5pt;font-family:"Garamond",serif;color:#073763">Phone|</span></b><span style="font-size:13.5pt;font-family:"Garamond",serif;color:#073763"> (206) 203-6000</span><span style="font-family:"Garamond",serif;color:#073763"><br>
<b>Email |</b> </span><u><span style="font-family:"Garamond",serif;color:#1155CC"><a href="mailto:ddaniel@demcolaw.com" target="_blank"><span style="color:#1155CC">ddaniel@demcolaw.com</span></a></span></u><span style="color:#222222"><o:p></o:p></span></p>
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<span style="font-family:"Garamond",serif;color:#073763">5224 Wilson Ave S #200</span><span style="color:#073763"><o:p></o:p></span></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-family:"Garamond",serif;color:#073763">Seattle, WA 98118</span><span style="color:#222222"><o:p></o:p></span></p>
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<p class="MsoNormal">On Tue, May 3, 2022 at 2:56 PM Craig Gourley <<a href="mailto:craig@glgmail.com">craig@glgmail.com</a>> wrote:<o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto">Listmates. So what exactly is a “ Governor” when it comes to the Secretary of State and LLCs . I can not find a definition anywhere. I currently have people listed as “Governors”
telling me that they are not “Members” and not Managers ( Member Managed LLC). They claim to have no financial interest but are listed as Governors by the Secretary of State. I realize that the SOS did not randomly do this and in this case I know they
were added by a family member. Is there any legal ramification to being made a “Governor” or can one randomly add anyone I feel like?
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:14.0pt">B. Craig Gourley</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:14.0pt">Gourley Law Group</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:12.0pt">Snohomish Escrow</span></b><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><b><span style="font-size:12.0pt">The Exchange Connection</span></b><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif">1002 10<sup>th</sup> Street / PO Box 1091</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif">Snohomish, WA 98291</span><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif">360.568.5065</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif">360.568.8092 fax</span><o:p></o:p></p>
<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><u><span style="font-size:10.0pt;font-family:"Arial Rounded MT Bold",sans-serif;color:#0563C1"><a href="mailto:Craig@glgmail.com" target="_blank"><span style="color:#0563C1">Craig@glgmail.com</span></a></span></u><o:p></o:p></p>
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<p class="MsoNormal" style="mso-margin-top-alt:auto;mso-margin-bottom-alt:auto"><span style="font-size:9.0pt;font-family:"Arial",sans-serif;color:red">Be Aware! Online banking fraud is on the rise. If you receive an email containing
<b>Wire transfer instructions </b>call us immediately to verify the information prior to sending any funds!</span><o:p></o:p></p>
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