Llc Operating Agreement
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LLC Operating Agreement
Table Of Contents
ARTICLE I. Formation and Name: Office; Purpose; Term ...................................... 113
Name of the Company .......................................................................113
Section 1.1.
Purpose .........................................................................................113
Section 1.2.
Term ............................................................................................115
Section 1.3.
Principal Office ...............................................................................115
Section 1.4.
Registered Agent and Registered Office ..................................................115
Section 1.5.
Members .......................................................................................115
Section 1.6.
Certificate of Interest or Membership.....................................................115
Section 1.7.
ARTICLE II. Capital and Capital Accounts............................................................... 115
Initial Capital Contributions ................................................................115
Section 2.1.
No Other Capital Contributions ...........................................................115
Section 2.2.
Additional Capital.............................................................................115
Section 2.3.
No Interest on Capital Contributions .....................................................116
Section 2.4.
Return of Capital Contributions ...........................................................116
Section 2.5.
Form of Return of Capital...................................................................116
Section 2.6.
Capital Accounts ..............................................................................116
Section 2.7.
Loans............................................................................................116
Section 2.8.
Member Loans or Services ..................................................................116
Section 2.9.
Section 2.10. Withdrawals ...................................................................................116
ARTICLE III. Profit, Loss, and Distributions ............................................................ 116
Section 3.1. [Special Allocations .......................................................117
Section 3.1.
Section 3.2.
Distributions of Cash Flow and Allocations of Profit or Loss
Other Than From Capital Transactions ...................................................117
Section 3.3.
Distributions of Capital Proceeds and Allocation of Profit or Loss
from Capital Transactions ...................................................................117
Liquidation and Dissolution .................................................................118
Section 3.4.
General .........................................................................................118
Section 3.5.
ARTICLE IV. Management: Rights, Powers, and Duties ......................................... 119
Management and Manager ..................................................................119
Section 4.1.
Meetings, Powers and Duties of and Voting by Members .............................120
Section 4.2.
Personal Services..............................................................................121
Section 4.3.
Duties of Parties...............................................................................121
Section 4.4.
Power of Attorney............................................................................122
Section 4.6.
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Parent category: Business