Operating Agreements [LLCs Only] - $259.95
An Operating Agreement is required and must be adopted within 90 days after the
filing of the Articles of Organization. The Operating Agreement is a key determinant
of the level of success of a limited liability company. The Operating Agreement
serves to make a limited liability company flexible at many important operational
levels. For it is within this document that the basic rights and responsibilities of
the members are defined; that the management structure of the company is decided; that
the division of profit and loses will be laid out; that the members’ contributions of
money, services, or property will be defined; and that the members’ voting and other
rights will be laid out. Our Business Solutions Group (BSG) can draft the Operating
Agreement in conjunction with your Company documents, in compliance with New York
Law.
You will be given an opportunity to discuss (review and modify) it’s content with one
of our BSG Representatives in order to ensure that your company’s general operation and
conduct of affairs are appropriately defined.
IMPORTANT PROVISIONS WITHIN YOUR OPERATING AGREEMENT
Your Operating Agreement will provide:
- A framework for the settlement of disputes between your Company’s owners (members).
-
A framework for the purchase and transfer of ownership interest in your company
by remaining owners (members) in the event an owner dies or becomes disabled.
- An owner (member) from impairing the goodwill of your Company.
-
An owner (member) from soliciting customers of your Company except for your
Company’s business. -
An owner (member) from transferring his membership interest to a third party
without first offering it to existing owners. -
An owner (member) from not maintaining the confidentiality of all customer
names and other Company records.