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  • Blumberg Operating Agreement Pdf Form

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S under the name or designation of at , State of New York, and that a certificate of conducting business County of , State of New as partners was filed in the office of the County Clerk, County of York, on the day of under index number day of and that the last amended certificate was filed on the in the office of the said County Clerk under index number and we hereby further certify that the filing of a certificate in said county is no longer required for the reason that the said day of or the b.

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Class B Membership means a non-equity Membership Interest in the Company which has no distribution rights or voting rights in the Company.

An operating agreement, also known in some states as a limited liability company (LLC) agreement, is a contract that describes how a business plans to operate. Think of it as a legal business plan that reads like a prenup.

An LLC Operating Agreement may create classes of membership units. To illustrate: Class A units could contain full financial and voting rights. Class B units could include financial rights, but no voting rights.

Here, Class A would be business-founding members with complete voting rights. Class B would also be founders, but perhaps they played a minor role and are thus given less voting power. Class C would be investors, which aren't given any voting power.

When more than one class of stock is offered, companies traditionally designate them as Class A and Class B, with Class A carrying more voting rights than Class B shares. Class A shares may offer 10 voting rights per stock held, while class B shares offer only one.

An operating agreement should include the following: Percentage of members' ownership. Meeting provisions and voting rights. Powers and duties of members and management. Distribution of profits and losses. Tax treatment preference. A liability statement. Management structure. Operating procedures.

What Should be Included in an Operating Agreement? Names, addresses, and titles of each member. Ownership percentages. Member rights and responsibilities. Responsibility, liability, and powers of members and/or managers. Profit and loss distribution. Buying and selling rules. Dissolution instructions. Meeting guidelines.

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. The managing member may have more voting rights than the passive members.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232