This Operating Agreement is for a Limited Liability Company with only one Member. This form may be perfect for an LLC started by one person. You make changes to fit your needs and add description of your business. Approximately 10 pages. It allows for eventual adding of new Members to LLC.
Utah Llc Operating Agreement With State
State:
Utah
Control #:
UT-00LLC-2
Format:
Word;
Rich Text
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You are not legally required to have an Operating Agreement to form and run a Utah LLC. Still, it is recommended that you have one to further protect yourself from personal risk and liability in case of lawsuits against the company.
How to Start an LLC in UtahSelect a name for your Utah LLC.Designate a registered agent. Our picks of the best LLC services.File a Certificate of Organization.Draft an operating agreement.Obtain an IRS Employer Identification Number (EIN)Fulfill your Utah LLC's additional legal obligations.
An operating agreement is a key business document that shows your business operates like a legit company. Without the operating agreement, your state might not acknowledge you as an LLC, and which means someone could sue to go after you without there being any shield to protect your personal assets.
Most LLC operating agreements are short and sweet, and they typically address the following five points:Percent of Ownership/How You'll Distribute Profits.Your LLC's Management Structure/Members' Roles And Responsibilities.How You'll Make Decisions.What Happens If A Member Wants Out.More items...?
Get together with your co-owners and a lawyer, if you think you should (it's never a bad idea), and figure out what you want to cover in your agreement. Then, to create an LLC operating agreement yourself, all you need to do is answer a few simple questions and make sure everyone signs it to make it legal.
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A Utah LLC agreement is a document that applies to companies of any type, and you may tailor an operating agreement to your liking. An LLC operating agreement is not required in Utah, but is highly advisable.This is an internal document that establishes how your LLC will be run. An operating agreement gives your business structure and official procedures. An operating agreement is not required for your Utah LLC but you'll be better off operationally if you have one. An LLC operating agreement is important because it outlines the functional rules and member responsibilities within the business. Want to reduce personal liability for you and your business partners? A Limited Liability Company (LLC) might be right for you. Utah state law does not require LLCs to adopt a written operating agreement. Once an LLC is formed, it is critical for the entity to have a documented set of rules or statements that will be used to govern the entity.