Llc Operating Agreement Nevada With Multiple Classes
Description
How to fill out Nevada Limited Liability Company LLC Operating Agreement?
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FAQ
Operating Agreement There is no legal requirement for the form in Nevada, however, it is recommended that one be drafted and reviewed by the managing member(s), and thereafter signed by each member.
While it may not be a requirement to have an operating agreement, it's actually in the best interest of an LLC to draft one. And by drafting it, I'm referring to creating a written operating agreement. Some LLCs, depending on the number of members, may think an oral agreement is sufficient enough to run a business.
It is possible to have multiple classes of equity in an LLC. In a real estate LLC, for example, you may have an actively managing member and other passive participants.
In order to complete your Operating Agreement, you will need some basic information. The formation date of your LLC. The name and address of the Registered Office and Registered Agent. The general business purpose of the LLC. Member(s) percentages of ownership. Names of the Members and their addresses.
The operating agreement should include the following: Basic information about the business, such as official name, location, statement of purpose, and registered agent. Tax treatment preference. Member information. Management structure. Operating procedures. Liability statement. Additional provisions.