Member Managed LLC Operating Agreement - 1188 Downloads

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Member Managed LLC Operating Agreement
File Size: 41 KB
Downloads: 1188
Uploaded on: 2015-11-16 10:33:00
File Name: Member-Managed-LLC-Operating-Agreement.docx
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A member managed LLC operating agreement is used primarily by limited liability companies as a binding document for all of the members or owners. Within a member managed LLC company, all of the owners participate as a group to run the organization. This LLC agreement provides the necessary documentation for all of the owners to state their role in the business and assure their continued participation in the company.The agreement will focus primarily on the expectations of each member. Basic information for each member should be provided as well as specific information detailing his or her involvement with the company. The content of the agreement should focus primarily on each member's percentage of the business, what should be done if a member decides to leave, how much money each member is putting into the business, and whether or not members contribute assets that are not monetary. The member managed LLC operating agreement should seek to protect all of the members and their roles within the business.In this member managed LLC operating agreement sample all of the members are equally contributing to the company. The terms and conditions for each member are the same, including each member equally splitting the costs of buying out an obsolete member.

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