Hewnspirits Posted August 9, 2013 Share Posted August 9, 2013 The TTB specialist reviewing my application has asked me to fill in a separate OOI application/form for my 9.5% investors who aren't officers of the LLC.....just investors. I was under the impression that anyone under 10% didn't need to get vetted or have to be listed on their own OOI listing? My TTB Agent has been very helpful so far but seems a bit unsure on this one herself. Any thoughts? Link to comment Share on other sites More sharing options...
rumfarmer Posted August 9, 2013 Share Posted August 9, 2013 My understanding is that anything in excess of 9% required the OOI. We did maximum share blocks of 9% for our raise for this reason. No OOI needed for any of the 3 investors we took on. Link to comment Share on other sites More sharing options...
Hewnspirits Posted August 9, 2013 Author Share Posted August 9, 2013 That's what I thought....tricky part is trying to explain their own rules back to the TTB Link to comment Share on other sites More sharing options...
Mash Posted August 9, 2013 Share Posted August 9, 2013 Yep, 10% or more had to have the OOI for my application. We have a total of 26 investors and only 3 @ 10% and above. It's in CFR27, just can't tell you the page. Link to comment Share on other sites More sharing options...
Hewnspirits Posted August 9, 2013 Author Share Posted August 9, 2013 Does it matter if they are "members" of the entity? That's how our Operating Agreement lists them. Link to comment Share on other sites More sharing options...
rumfarmer Posted August 9, 2013 Share Posted August 9, 2013 Ours are also members. That wasn't a problem. Link to comment Share on other sites More sharing options...
whiskeytango Posted August 10, 2013 Share Posted August 10, 2013 Just fill them out, there is going to be plenty of road blocks that will be a lot harder to solve than this one. It takes about 10 minutes to do it and unless they have something to hide its no big deal. Link to comment Share on other sites More sharing options...
Stills Crossroad Posted August 11, 2013 Share Posted August 11, 2013 The way I read it was all members of an LLC need to file OOI forms. Other corporations did not require OOI under 10%. We also went down and got fingerprinted together for the State. It was a great bonding experience! Link to comment Share on other sites More sharing options...
Hewnspirits Posted August 12, 2013 Author Share Posted August 12, 2013 Thanks James. Can you tell me where you found that specific language? Link to comment Share on other sites More sharing options...
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