brookfieldpartners
Expert
I had this recently brought to my attention.
Can an unlicensed CPA start an insurance agency with a licensed producer. The licensed producer will be the officer of the LLC and the CPA will be a member of the LLC.
The CPA would then share in the profits of the newly created LLC. NOT IN THE COMMISSIONS, but the PROFITS.
Has anyone seen this before? Is it permissible?
Can an unlicensed CPA start an insurance agency with a licensed producer. The licensed producer will be the officer of the LLC and the CPA will be a member of the LLC.
The CPA would then share in the profits of the newly created LLC. NOT IN THE COMMISSIONS, but the PROFITS.
Has anyone seen this before? Is it permissible?