Llc Operating Agreement Arizona With Non Voting Members
Description
How to fill out Arizona Limited Liability Company LLC Operating Agreement?
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FAQ
See A.R.S. §§ 29-3102 and 29- 3105 through 29-3107. An operating agreement is not required by statute. If there is not operating agreement, then the LLC statutes will govern how the LLC conducts its affairs.
Without the operating agreement, your state might not acknowledge you as an LLC, which means someone could sue you without there being any shield to protect your personal assets. You've already put in the time and effort to form your LLC to get liability protection.
Whether your LLC is run by its members or by managers, you'll have to include member information in your articles. When this information changes?as it does when adding new members?you must submit Arizona Articles of Amendment to the Arizona Corporations Commission (ACC), and pay the associated $25 filing fee.
To REMOVE a member - list the name only of the member being removed and check "Remove member." To ADD a member - list the name and address of the member being added and check "Add member." To CHANGE ADDRESS only - list the name and NEW address and check "Address change." To CHANGE NAME of existing member - list the ...
Although not required, it's also smart to create an operating agreement so that the rules are set for how you plan to run the LLC. As a single-member LLC this document will help if any legal situations arise.