Limited Liability Company Operating Agreement
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9LIMITED LIABILITY COMPANY OPERATING AGREEMENT
FOR
_________________________
A ____________________-Managed Limited Liability Company
ARTICLE I
Company Formation
1.1
FORMATION. The Members hereby form a Limited Liability Company ("Company")
subject
to the provisions of the Limited Liability Company Act as currently in effect as of
this date.
Articles of Organization shall be filed with the Secretary of State.
1.2
NAME. The name of the Company shall be: ____________________________________.
1.3
REGISTERED AGENT. The name and location of the registered agent of the Company
shall
be:
____________________________________
______________________
______________________
_______________________
1.4
TERM. The Company shall continue for a perpetual period.
(a) Members whose capital interest as defined in Article 2.2 exceeds 50 percent vote for
dissolution; or
(b) Any event which makes it unlawful for the business of the Company to be carried on
by the Members; or
(c) The death, resignation, expulsion, bankruptcy, retirement of a Member or the
occurrence of any other event that terminates the continued membership of a Member
of the Company; or
(d) Any other event causing dissolution of this Limited Liability Company under the laws of the
State of ___________________.
1.5
CONTINUANCE OF COMPANY. Notwithstanding the provisions of ARTICLE 1.4, in the
event
of an occurrence described in ARTICLE 1.4(c), if there are at least two remaining Members, said
remaining Members shall have the right to continue the business of the Company. Such right can be
exercised only by the unanimous vote of the remaining Members within ninety (90) days after the
occurrence of an event described in ARTICLE
1.4(c). If not so exercised, the right of the Members to
continue the business of the
Company shall expire.
1.6
BUSINESS PURPOSE. The purpose of the Company is to __________________________
________________________________________________________________________
________________________________________________________________________
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