Arkansas Resolution of Meeting of LLC Members — General Purpose is a legal document that outlines the decisions made during a meeting of members in an LLC (Limited Liability Company) operating in the state of Arkansas. This resolution plays a crucial role in recording and documenting important actions taken by the members of the LLC. It helps provide clarity, transparency, and legal protection for all parties involved in the decision-making process. The resolution typically starts with a heading that includes the LLC's name, followed by a statement such as "Resolution of Meeting of LLC Members — General Purpose." This heading helps identify the specific resolution and its purpose. The document then includes several key sections that need to be addressed: 1. Date and Place of the Meeting: This section indicates the specific date, time, and physical location where the meeting took place. It is important to record these details accurately to establish the validity of the resolution. 2. Attendance: The names of LLC members present at the meeting are listed in this section. It is essential to include the full legal names of all attendees to ensure clarity and avoid confusion in the future. 3. Approval of Previous Meeting Minutes: If applicable, this section covers the approval of the minutes of the previous meeting. The minutes contain a summary of the topics discussed, decisions made, and any actions taken. Approving the previous minutes ensures that they become part of the official record. 4. Discussion of Agenda Items: The resolution outlines the specific agenda items discussed during the meeting. Each agenda item is addressed individually, including any accompanying documentation or reports that were presented and reviewed. 5. Decisions and Resolutions: Here, the resolution details the decisions or resolutions made by the LLC members regarding each agenda item. This section provides a clear account of which resolutions were passed or rejected and any corresponding actions to be taken. 6. Voting Results: If voting took place on specific agenda items, this section captures the results of each vote. It typically states the number of votes cast in favor, against, and any abstentions. Including this information helps demonstrate the decision-making process and any majority or unanimous decisions made. Some examples of different types of Arkansas Resolution of Meeting of LLC Members — General Purpose may include resolutions related to: 1. Amendments to the Operating Agreement: This resolution addresses changes or revisions to the LLC's operating agreement, which outlines the rules, roles, and responsibilities of the members. 2. Appointment or Removal of Managers: When members decide to appoint or remove managers within the LLC, a resolution reflecting this decision is necessary. 3. Capital Contributions: If members agree to make additional capital contributions or alter existing contribution terms, a resolution outlining the changes is required. 4. Dissolution or Merger: If the members decide to dissolve the LLC or merge with another company, a specific resolution is needed to formalize this decision. In summary, the Arkansas Resolution of Meeting of LLC Members — General Purpose is a vital legal document that records decisions, actions, and voting results during a meeting of members in an LLC. Examples of different types of resolutions may include amendments to the operating agreement, appointment or removal of managers, capital contributions, and decisions related to dissolution or merger.
Arkansas Resolution of Meeting of LLC Members - General Purpose
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How to fill out Resolution Of Meeting Of LLC Members - General Purpose?
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An LLC member resolution is the written record of a member vote authorizing a specific business action. Formal resolutions aren't necessary for small, everyday decisions. However, they're useful for granting authority to members to transact significant business actions, such as taking out a loan on behalf of the LLC.
How to Write a ResolutionFormat the resolution by putting the date and resolution number at the top.Form a title of the resolution that speaks to the issue that you want to document.Use formal language in the body of the resolution, beginning each new paragraph with the word, whereas.More items...?16-Jun-2021
Arkansas does not legally require LLC owners to submit an operating agreement to the Secretary of State when filing the Articles of Organization (the formal paperwork needed to form an LLC officially).
Most LLC Resolutions include the following sections:Date, time, and place of the meeting.Owners or members present.The nature of business or resolution to discuss, including members added or removed, loans made, new contracts written, or changes in business scope or method.More items...
The articles of organization is an operating agreement stating the procedure for voting on an LLC's resolutions. Usually, a majority vote is required for passing a resolution. However, it is permissible to have other voting percentages.
Unlike LLCs, corporations are required to make resolutions. Therefore, they are used to preparing them when shareholders or the board of directors make decisions. Although an LLC is not required to make resolutions, there are many reasons for getting in the habit of maintaining resolutions.
Any LLC member can propose a resolution, but all members must vote on it. Typically a majority of the members is needed to pass the resolution, but each LLC may have different voting rights. Some LLCs give a different value to each member's vote based on their percentage of interest in the company.
How To Write a Corporate Resolution Step by StepStep 1: Write the Company's Name.Step 2: Include Further Legal Identification.Step 3: Include Location, Date and Time.Step 4: List the Board Resolutions.Step 5: Sign and Date the Document.
