AI Generated American Operating Agreement for Limited Liability Company
Operating Agreement for Limited Liability Company
1. Parties
Identifies the LLC and every person or entity entering into the Operating Agreement as a Member or Manager, including legal names, mailing addresses, and ownership percentages.
2. Recitals
States the background, purpose for drafting the Operating Agreement, and the intent of the parties to be legally bound.
3. Formation
Confirms the formation of the Limited Liability Company, reference to the filed Articles of Organization, and the effective date of formation under state law.
4. Name of the Company
Sets forth the exact legal name of the LLC as registered with the Secretary of State and any permitted variations or trade names.
5. Principal Office and Business Address
Provides the street address of the LLC’s principal place of business and authority for the Members or Managers to change that address.
6. Registered Agent and Registered Office
Designates the registered agent and registered office for service of process and describes the procedure to change either.
7. Business Purpose
Defines the nature and scope of the LLC’s business activities and grants authority to engage in any lawful business for which a limited liability company may be organized.
8. Term and Continuity
States the commencement date of the LLC and its perpetual duration unless dissolved in accordance with the Agreement or applicable law.
9. Capital Contributions
Lists initial capital contributions of each Member, the form of the contribution (cash, property, services), and timing requirements.
10. Capital Accounts
Establishes maintenance of individual capital accounts for each Member in accordance with Internal Revenue Code §704(b) and applicable Treasury Regulations.
11. Additional Capital Contributions
Sets conditions under which Members may or must contribute additional capital, including remedies for failure to contribute.
12. Allocation of Profits and Losses
Details how the LLC’s profits, losses, and items of income, deduction, credit, and basis are allocated among Members.
13. Distributions
Specifies timing, priority, and form of cash or property distributions to Members, including tax distributions and liquidating distributions.
14. Tax Classification and Elections
States the LLC’s federal and state tax classification (e.g., partnership or corporation), authority to make elections such as Subchapter S or check-the-box, and designation of the Partnership Representative under the Bipartisan Budget Act audit rules.
15. Fiscal Year and Accounting Methods
Defines the LLC’s fiscal year, accounting principles, bookkeeping responsibilities, and annual report requirements.
16. Bank Accounts and Funds Management
Authorizes establishment of bank and investment accounts and prescribes rules for signing authority and use of LLC funds.
17. Management Structure
Identifies whether the LLC is Member-managed or Manager-managed and describes the powers, duties, and limitations of the managing parties.
18. Appointment and Removal of Managers or Officers
Outlines procedures for electing, appointing, or removing Managers or Officers and defines their specific authority.
19. Meetings of Members
Provides requirements for annual and special meetings, notice, quorum, and minute-keeping.
20. Voting Rights and Procedures
Sets forth voting power (per-capita, percentage, or unit-based), approval thresholds for ordinary and major actions, and permitted voting methods (in-person, proxy, written consent).
21. Action by Written Consent
Authorizes Members or Managers to act without a meeting through unanimous or majority written consent and prescribes record-keeping requirements.
22. Duties, Standard of Care, and Fiduciary Obligations
Defines fiduciary duties (or waivers) owed by Members and Managers, standard of care, good-faith requirements, and conflict-of-interest rules.
23. Compensation and Reimbursement
Describes compensation, draws, or fees payable to Members, Managers, or Officers and reimbursement of expenses incurred on behalf of the LLC.
24. Indemnification
Provides indemnity protection and advancement of expenses for Members, Managers, Officers, employees, and agents against claims arising from LLC activities.
25. Limitation of Liability
Limits personal liability of Members and Managers to the maximum extent permitted by law and clarifies exceptions such as willful misconduct or fraud.
26. Records and Information Rights
Specifies books and records the LLC must maintain and grants Members access and inspection rights.
27. Confidentiality
Imposes obligations on Members and Managers to keep LLC information confidential and outlines permitted disclosures.
28. Intellectual Property
Addresses ownership, licensing, and use of intellectual property contributed to or developed by the LLC.
29. Loans to or from Members
Sets terms and approval requirements for any loans made by or to Members, including interest rates and collateral.
30. Transfer and Assignment of Membership Interests
Provides restrictions, conditions, and procedures for voluntary or involuntary transfers of LLC interests, including required consents.
31. Right of First Refusal and Buy-Sell Provisions
Grants the LLC or remaining Members priority to purchase a transferring Member’s interest before sale to third parties and details pricing mechanisms.
32. Drag-Along and Tag-Along Rights
Defines rights compelling minority Members to join in a sale (drag-along) or permitting them to participate in a sale (tag-along).
33. Admission of New Members
Sets the requirements for admitting additional Members, including capital contribution, execution of joinder agreements, and voting approval.
34. Withdrawal, Resignation, or Expulsion of Members
Describes conditions under which a Member may withdraw, steps for voluntary resignation, and grounds and procedures for expulsion.
35. Events of Dissociation
Enumerates events—death, bankruptcy, incapacity—that cause a Member’s dissociation and resulting rights and obligations.
36. Dissolution
Lists events triggering dissolution (e.g., unanimous vote, judicial decree) and outlines the winding-up process.
37. Winding Up and Liquidation
Details procedures for liquidating assets, paying creditors, and distributing remaining assets to Members in accordance with capital account balances.
38. Continuation of the Business after Dissolution Event
Provides for reconstitution of the LLC if remaining Members elect to continue the business after a dissolution event.
39. Amendments to Operating Agreement
Specifies procedures and approval thresholds required to amend, modify, or restate the Agreement.
40. Notices
Establishes methods, addresses, and deemed receipt rules for all notices required under the Agreement.
41. Governing Law
Declares which state’s laws govern the Agreement, typically the state of organization.
42. Dispute Resolution
Provides for mediation, arbitration, or litigation venue, waiver of jury trial, and allocation of attorney’s fees.
43. Severability
States that unenforceable provisions will be severed and remaining provisions will continue in full force.
44. Waiver
Clarifies that failure to enforce any provision is not a waiver of future enforcement rights.
45. Entire Agreement and Superseding Effect
Affirms that the Operating Agreement constitutes the complete agreement among the parties and supersedes prior agreements or understandings.
46. Counterparts and Electronic Signatures
Permits execution of the Agreement in multiple counterparts and by electronic signature or PDF delivery.
47. Headings
States that section headings are for convenience only and do not affect interpretation.
48. Exhibits and Schedules
Lists attached schedules such as Member Capital Contributions, Percentage Interests, and any special allocations or buy-sell formulas, incorporating them by reference.
49. Signature Blocks
Provides lines for each Member and Manager to sign and date the Operating Agreement with name and title, indicating acceptance.
Effortlessly create your LLC Operating Agreement with our cutting-edge AI technology tailored for American businesses.
तत्काल दस्तावेज़ निर्माण।
कानूनी रूप से अनुपालित समझौतों।
उपयोगकर्ता-अनुकूल इंटरफ़ेस।
अपना दस्तावेज़ मुफ्त में जनरेट करें।
PDF, Word और ईमेल $9.99 USD में डाउनलोड करें।
अपने दस्तावेज़ को 4 आसान चरणों में तैयार करें
1
कुछ प्रश्नों का उत्तर दें
हमारा AI आपको आवश्यक जानकारी के माध्यम से मार्गदर्शन करता है।
2
अपना दस्तावेज़ बनाएँ
Docaro आपकी आवश्यकताओं के आधार पर दस्तावेज़ तैयार करता है।
3
समीक्षा & संपादित करें
अपने दस्तावेज़ की समीक्षा करें और कोई अन्य अनुरोधित बदलाव भेजें।
4
डाउनलोड करें
अपने दस्तावेज़ को PDF, Word, Txt या HTML के रूप में डाउनलोड करें।
Docaro के साथ समय और पैसा बचाएं
तेजी से उत्पन्न करना
तेजी से एक व्यापक Operating Agreement for Limited Liability Company उत्पन्न करें, पारंपरिक दस्तावेज़ मसौदा बनाने में होने वाली परेशानी और समय को समाप्त कर दें।
निर्देशित प्रक्रिया
हमारा उपयोगकर्ता-अनुकूल प्लेटफॉर्म दस्तावेज़ निर्माण प्रक्रिया को सरल बनाता है, जिससे आप कुछ ही क्लिक में समझौतों को पूरा कर सकते हैं।
व्यावसायिक रूप से स्वरूपित दस्तावेज़
आपका Operating Agreement for Limited Liability Company पेशेवर मानकों के अनुसार, हेडिंग्स, खंड संख्या और संरचित लेआउट सहित स्वरूपित किया जाएगा। आगे संपादन की आवश्यकता नहीं है।
लागत प्रभावी
महंगे कानूनी सेवाओं या परामर्श की आवश्यकता के बिना कानूनी रूप से सही किराया अनुबंध बनाकर पैसे बचाएं।
उच्च सटीकता
हमारे एआई उच्च सटीकता सुनिश्चित करते हैं, आपके विशेष आवश्यकताओं को पूरा करने वाले समझौतों को तैयार करने के लिए उन्नत एल्गोरिथ्म का उपयोग करके।
भारतीय कानून के अनुपालन
विश्वास रखें कि सभी उत्पन्न दस्तावेज़ भारत के नवीनतम कानूनी मानकों और नियमन का पालन करते हैं, जिससे विश्वास और विश्वसनीयता में वृद्धि होती है।
मुफ्त में शुरू करें
आपके Operating Agreement for Limited Liability Company को उत्पन्न करने के लिए कोई साइन अप या भुगतान आवश्यक नहीं है। बस कुछ प्रश्नों का उत्तर दें और आपके अंतिम दस्तावेज का पूर्वावलोकन उत्पन्न होगा।
Operating Agreement for Limited Liability Company क्या है?
An Operating Agreement is a comprehensive legal document outlining the management structure and operational guidelines for a Limited Liability Company (LLC). It defines the roles and responsibilities of members and managers, outlines procedures for making business decisions, and helps protect the limited liability status of LLC members. In the United States, having a well-drafted Operating Agreement is not only crucial for internal governance but also vital in ensuring legal and financial protection for all involved parties. Our AI-driven platform provides a streamlined and reliable method to generate your tailored Operating Agreement, helping to ensure your business operates smoothly and within legal frameworks across various states.
अनुपालन कानून
आपके दस्तावेज़ को निम्नलिखित विधायी और विनियामक अनुपालन के लिए जाँच किया जाएगा:
•
The Limited Liability Partnerships Act 2000
•
The Companies Act 2006
•
The Income Tax (Trading and Other Income) Act 2005
•
The Limited Liability Partnerships (Application of Companies Act 2006) Regulations 2009
•
The Limited Liability Partnerships Regulations 2001
•
The Limited Liability Partnerships (Accounts and Audit) Regulations 2008
•
The Partnership Act 1890
•
General Data Protection Regulation (GDPR) 2016/679
•
The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017
•
The Companies (Miscellaneous Reporting) Regulations 2018
अक्सर पूछे जाने वाले प्रश्न
Docaro एक एआई-संचालित कानूनी दस्तावेज़ जनक है जो आपको पूरी तरह से स्वरूपित, कानूनी रूप से ध्वनि अनुबंध और समझौतों को कुछ ही मिनटों में बनाने में मदद करता है। बस कुछ मार्गदर्शित प्रश्नों का उत्तर दें और अपने दस्तावेज़ को तुरंत डाउनलोड करें।
आपको इसमें भी दिलचस्पी हो सकती है
Consultancy Agreement
Shareholders' Agreement
Business Sale Agreement
Asset Purchase Agreement
Founders' Agreement
Board Resolution
Stock Purchase Agreement
Corporate Bylaws
Articles Of Incorporation
Partnership Agreement