Alaska Resignation of Operator Under Operating Agreement

State:
Multi-State
Control #:
US-OG-767
Format:
Word; 
Rich Text
Instant download

Description

This form is used when the signing party , as of the Effective Date resigns as Operator, and relinquishes all rights and authority to act as Operator of the Contract Area under an operating agreement.

How to fill out Resignation Of Operator Under Operating Agreement?

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FAQ

Common pitfalls of a poorly drafted Operating Agreement include failing to: (i) specify what authority managers or members have; (ii) carve out key decisions that require a higher approval threshold (e.g., dissolution, sale of all or substantially all of the assets of the LLC, etc.); (iii) address how deadlocks in the ...

Alaska LLC Cost. Alaska's state fee for forming an LLC is $250. On top of that, you'll need to pay $100 every other year to file a biennial report. The state is currently waiving the state business license fee, but that could change.

The state of Alaska doesn't require LLCs to keep an operating agreement. As stated in AK Stat § 10.50. 095, an LLC ?may adopt an operating agreement? for the company, but it doesn't have to.

BUSINESS LICENSING SECTION: Submit Business License: Request to Cancel (form 08-4732) to cancel any business licenses associated with this entity. Go to .BusinessLicense.Alaska.Gov for more information and forms. PROFESSIONAL LICENSING SECTION: Email License@Alaska.Gov for more information and appropriate forms.

There is no requirement for an LLC to have an operating agreement in the State of Alaska, however, it is highly recommended as it is the only document that states the ownership (important for multi-member companies) along with other valuable business information.

Although most states do not require the creation of an operating agreement, it is nonetheless regarded as a critical document that should be included when forming a limited liability company. Once each member (owner) signs the document, it becomes a legally binding set of regulations that must be followed.

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Alaska Resignation of Operator Under Operating Agreement