[Question]: Future support for LLCs (membership interests)?

[mrosendin]

Question:

The current OCF for v1.0 targets compatibility for stock corporations. I was wondering if it has been brought up yet or planned for future versions of OCF to include support for membership interests or unit interests in LLCs. A common data format for managing equity in LLCs has major applications for SPVs, alternative investment funds, and similar structures.

[JSv4]

Things we could start with:

• Model economic ownership %s / units instead of stock.
  • Economics can vary tremendously
  • Pro forma would have to change a lot potentially.
  • Flagging the type at the Company level
• To extent we're just tracking the types of interest and count of them
  • We need to understand the data model a little better and what needs to be tracked
  • How much of the DE C Corp model can we use?

TWG to chime in here on what they've done in the past.

[Sumukh]

• LLC Membership Classes map to Share Classes
  • Interests in a membership class (units) maps to instruments under a share class.
  • We will need some kind of primitive for tracking distributions (to get to capital account balances)

[JSv4]

I'm closing this for now. If we do a project to add LLC support, we can revisit.

[victormimo]

Do we have any interest in opening this topic back up? I'm sure every participant here has been asked by a customer. @JSv4 let me know how contributions can take place, if I (fairmint.com) can take a stab at it and request a review.