Section 61Part 11 — MISCELLANEOUS
Register of members
←→ Navigate · Click subsection badges to collapse · Press ? for help
A limited liability company shall maintain at its registered office or at any other place within or out side the Islands, a register of its members which shall contain —
the name and address of each member of the limited liability company;
the date on which each person became a member of the limited liability company;
the date on which a member ceased to be a member of the limited liability company; and
information on the interest held by each member specifying —
each group or class, if any, of LLC interest held by the member;
whether the LLC interest held by the member confers the right to vote on any matter which is to be voted on;
whether the member has the right to vote as a consequence of membership of any group of members or otherwise; and
whether such right is conditional, and the register shall be updated within twenty - one days of any change in the particulars contained in the register.
Where the register of members is kept at a place other than the registered office of the limited liability company, the limited liability company shall maintain or cause to be maintained at the registered office of the limited liability company the information contained in the register of members under subsection (1), whichshall be updated within twenty - one days of the date of any change in the particulars therein .
Subject to subsection (5), the register of members and the record of the address at which the register of members is maintained shall be open to inspection only by such persons —
as are expressly provided for in a LLC agreement; and
as otherwise permitted by the manager.
The register of members shall be prima facie evidence of the matters which are directed by this Act to be inserted therein.
Where the register of members is kept at a place other than the registered office of the limited liability company, the limited liability company shall make available at the registered office, in electronic form or any other medium, the register of members upon service of an order or notice by the Tax Information Authority pursuant to the Tax Information Authority Act (2021 Revision) .
A limited liability company making default in complying with this section shall incur a penalty of five thousand dollars which penalty shall be a debt due to the Registrar.