District of Columbia Ratification of Memorandum of Operating Agreement and Financing Statement - Form 2
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How to fill out Ratification Of Memorandum Of Operating Agreement And Financing Statement - Form 2?
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FAQ
Washington, DC, isn't a state; it's a district. DC stands for District of Columbia. Its creation comes directly from the US Constitution, which provides that the district, "not exceeding 10 Miles square," would "become the Seat of the Government of the United States."
Home rule is a provision of the state constitution or similar legislation granting a local municipality a certain amount of autonomy to allocate powers between the state and the local government. If it is accepted by the local government, then it constitutes self-government.
Dillon's Rule takes a narrow approach to local authority, essentially stating that local governments only have the powers expressly granted to them by the state. Home Rule gives local governments greater autonomy and limits the power of states to interfere in local affairs.
On December 24, 1973, Congress enacted the District of Columbia Home Rule Act, providing for a popularly elected mayor and 13-member Council. Each of the district's eight wards elects a single member of the council and five members, including the chairman, are elected at large.
A District of Columbia LLC Operating Agreement is a written contract between the LLC Members (LLC owners). This legal document includes detailed information about LLC ownership structure, who owns the company and how the LLC is managed.
Security interest filings in Washington, DC are filed with the Recorder of Deeds (ROD). If you have a UCC against real property, better known as a ?fixture filing?, this would be filed in the land records of the ROD, while vast majority are found in the ?chattel? records (yes, DC still uses the word chattel).
District of Columbia home rule is the District of Columbia residents' ability to govern their local affairs. As the federal capital, the Constitution grants the United States Congress exclusive jurisdiction over the District in "all cases whatsoever". The United States Congress has ultimate authority over the District.
Essentially, a UCC-1 can be described as a financing statement. In fact, it is sometimes called a UCC financing statement. A creditor files a UCC-1 to provide notice to interested parties that he or she has a security interest in a debtor's personal property.
