Trucking: Trucking Partnership, dot authority, minimum insurance

Question
Friends rig is in the shop and needs me to help him get it out.  We are considering a partnership where I pay for the repair and help him get more loads through another friend of mine. He has the licensing, rig, experience, etc.  We will also form a LLC.  My question is:  what, if any, licensing do I need personally?  DOT, authority, dipatching, anything like that?  or is it as simple as getting his rig repaired, forming the partnership (with everything spelled out) and start sending him on runs?
thanks, your website here has a wealth of helpful information.

Answer
PJ, there is more than one way to go on this.  If you operate as an owner operator running under someone else's operating authority all that's needed is a CDL and proper licensing and insurance on the vehicle.  Just be sure to do business in the name of the LLC that you form.  If you are proposing to work directly with shippers or through brokers your company will need operating authority and minimum insurance as required by DOT.  See this website for more info:
http://www.fmcsa.dot.gov/registration-licensing/NewEntrant-faq.asp
You didn't mention if your other friend is a broker but if he is I am sure he will require DOT operating authority.
One other option is just be the bank; loan the money and hold the title to the rig until it's paid off, (assuming the truck is not already financed).  Bet of luck with your partnership.  Jim