![]() ![]() ![]() The Member(s) shall not be liable, responsible, or accountable, in damages or otherwise, to the Company or any other person acting for on behalf of the Company. Any changes must be made in writing and signed by all Members.ġ4. ![]() This Agreement may not be altered, amended, or changed in any respect unless agreed-upon by a majority of the Member(s). All claims and disputes arising under this Agreement are to be settled by binding arbitration in the State of Formation, or another location agreed upon by all Member(s).ġ3. All notices, demands, requests, or other communications relating to this Agreement must be in writing and delivered via certified mail.ġ2. The Member(s) shall be notified of the date, time, and the location of the meeting within thirty (30) days it is to take place.ġ1. The Member(s) agree to meet on an annual basis. The Member(s) may elect a Manager to oversee day-to-day operations.ġ0. The day-to-day management of the Company shall be determined by the Member(s). The Company shall maintain complete and accurate books and records of the Company’s business and affairs as required by the State of Formation.ĩ. After meeting the financial obligations of the Company, the Company shall distribute cash and other assets to the Member(s) in a manner determined by the Member(s).Ĩ. All capital contributions shall be listed in an attached addendum and signed by all Member(s).ħ. The Member(s) may contribute their own assets at any time to benefit the Company. The term of the Company shall commence on filing and continue indefinitely until terminated by the Member(s).Ħ. The purpose of the Company is to engage and conduct all lawful business activities permitted in the state of formation.ĥ. The Registered Agent shall hold the rights and responsibilities granted to them allowed under state law. The Entity shall hereinafter be known as the “Company”. This Agreement is entered into on for the following:Įntity Type: ☐ Single-Member ☐ Multi-Member LIMITED LIABILITY COMPANY OPERATING AGREEMENTġ. It’s important to know that the agreement is not set in stone but can (and should) be altered to match the company’s visions and goals as it grows. A straightforward game plan makes navigating the inevitable hurdles that startups face significantly easier. It allows the business’ founder(s) to outline the entity’s short- and long-term plans. Works for both single and multi-member LLCs.Īn LLC operating agreement establishes the fundamental guidelines and operational procedures of a newly formed company. Simple Version – A barebones form that can be used on its own or as a starting point for those looking to draft their own contract. Single-Member LLC – For entities that will have only one (1) owner. Multi-Member LLC – A business contract for limited liability entities with two (2+) or more owners.ĭownload: PDF, Word (.docx), OpenDocument Regardless of a state’s requirements, creating an operating agreement at the onset of an LLC is highly recommended due to the organizational and structural benefits they provide. Required in: California, Delaware, Maine, Missouri, Nebraska, and New York. ![]()
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