Fillable California Llc Operating Agreement Template (Page 4 of 16) in pdf

liable for any obligations of the Company or to make any additional Capital Contributions

advances or loans to the Company, unless such obligations are specifically accepted and agreed to

by such Member.

In the event that additional Class A Voting Capital is to be issued, the Voting Members who exist

immediately prior to such issuance shall be provided written notice of this intent, and shall be offered

in such notice the opportunity to make additional capital contributions in Class A Voting Capital in

proportion to their respective Percentage Voting Interests; provided that this right, if not exercised

within ninety (90) days after such notice is received, shall expire automatically, unless this period is

extended by the Voting Members. Any loans or additional capital contributions shall be voluntary.

The capital accounts of the Members, and the calculations that are based on the capital accounts,

shall be adjusted appropriately to reflect any transfer of an interest in the Company, distributions, or

additional capital contributions.

ARTICLE IV

MANNER OF ACTING

4.1 Officers and Agents of the Company. The Voting Members may authorize any

Member or Members of the Company, or other individuals or entities, whether or not a Member, to

take action on behalf of the Company, as the Voting Members deem appropriate. Any Member may

lend money to and receive loans from the Company, act as an employee, independent contractor,

lessee, lessor, or surety of the company, and transact any business with the Company that could be

carried out by someone who is not a Member; and the Company may receive from or pay to any

Member remuneration, in the form of wages, salary, fees, rent, interest, or any form that the Voting

Members deem appropriate.

The Voting Members may appoint officers of the Company who, to the extent provided by the

Voting Members, may have and may exercise all the powers and authority of the Members or

Managers in the conduct of the business and affairs of the Company. The officers of the Company

may consist of a President, a Treasurer, a Secretary, or other officers or agents as may be elected or

appointed by the Voting Members. The Voting Members may provide rules for the appointment,

removal, supervision and compensation of such officers, the scope of their authority, and any other

matters relevant to the positions. The officers shall act in the name of the Company and shall

supervise its operation, within the scope of their authority, under the direction and management of

the Voting Members.

Any action taken by a duly authorized officer, pursuant to authority granted by the Voting Members

in accordance with this Agreement, shall constitute the act of and serve to bind the Company, and

each Member hereby agrees neither to dispute such action nor the obligation of the Company created

thereby.

4.2 Meetings of Voting Members. No regular, annual, special or other meetings of Voting

Members are required to be held. Any action that may be taken at a meeting of Voting Members may

be taken without a meeting by written consent in accordance with the Act. Meetings of the Voting

Members, for any purpose or purposes, may be called at any time by a majority of the Voting

Members, or by the President of the Company, if any. The Voting Members may designate any place

as the place of meeting for any meeting of the Voting Members. If no designation is made, the place

of meeting shall be the principal place of business of the Company.

4.3 Notice of Meetings. In the event that a meeting of the Voting Members is called,

written notice stating the place, day and hour of the meeting and the purpose or purposes for which

the meeting is called shall be delivered not less than five nor more than sixty business days before the

date of the meeting unless otherwise provided, either personally or by mail, by or at the direction of

the Members calling the meeting, to each Voting Member. Notice of a meeting need not be given to

California Llc Operating Agreement Template Page 4

Related Articles

Related forms

Related Categories