Re:Delaware bill (HB 121) to allow corporations to vote in e...
by zuminator on Thursday June 22, 2023 @07:53AM
(#36430727)
The bill doesn't say even if you own "2 or more LLCs."
It says if you own "2 or more parcels of real property."
So, who owns the property in this scenario? The LLC owns the property. You personally don't own either parcel.
Each LLC owns 1 parcel of property, each LLC is a separate artificial entity, and per the bill, "every owner of property in the City...whether a natural person or artificial entity...shall have one (1) vote."
Thus, you can effectively control multiple votes by having a controlling interest in multiple LLCs.
It says if you own "2 or more parcels of real property."
So, who owns the property in this scenario? The LLC owns the property. You personally don't own either parcel.
Each LLC owns 1 parcel of property, each LLC is a separate artificial entity, and per the bill, "every owner of property in the City...whether a natural person or artificial entity...shall have one (1) vote."
Thus, you can effectively control multiple votes by having a controlling interest in multiple LLCs.