Ohio Llc Operating Agreement With Multiple Classes
Description
How to fill out Ohio Limited Liability Company LLC Operating Agreement?
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FAQ
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.
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.
Classes of LLC Membership Units Class A units could contain full financial and voting rights. Class B units could include financial rights, but no voting rights. Read more about LLC structures.
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.
Does an LLC have shares? No. Only businesses structured as a corporation issue shares. With a limited liability company, ownership is expressed by percentage and membership units.