Llc Operating Agreement Tennessee With Multiple Classes
Description
How to fill out Tennessee Single Member Limited Liability Company LLC Operating Agreement?
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FAQ
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.
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.
Nope, Tennessee law doesn't require you to file your operating agreement with the state. Your operating agreement is an internal document your LLC should keep on record.
To form a Series LLC in Tennessee, you must file Articles of Organization with the Tennessee Secretary of State, Business Services Division. You can submit this form online, in person, or by mail. The minimum filing fee is $300 for a Series LLC with six or fewer members.