Delaware Clauses Relating to Initial Capital contributions
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How to fill out Clauses Relating To Initial Capital Contributions?
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FAQ
The most common capital contribution is cash, but you can also contribute property, such as office space, vehicles, and equipment. It's also possible to contribute services to an LLC.
One of the most important sections in the operating agreement is the capital contribution section. A capital contribution section usually addresses what happens if members fail to contribute their portion of the initial start-up capital.
This clause should be used when one member contributed real property to the joint venture in exchange for membership interests and another member has contributed capital. The capitalized terms and section references used in this clause should be conformed to the relevant joint venture operating agreement.
One of the most important sections in the operating agreement is the capital contribution section. A capital contribution section usually addresses what happens if members fail to contribute their portion of the initial start-up capital.
This clause should be used when one member contributed real property to the joint venture in exchange for membership interests and another member has contributed capital. The capitalized terms and section references used in this clause should be conformed to the relevant joint venture operating agreement.
Example of Contributed Capital For example, a company issues 5,000 $1 par value shares to investors. The investors pay $10 a share, so the company raises $50,000 in equity capital. As a result, the company records $5,000 to the common stock account and $45,000 to the paid-in capital in excess of par.
Section 18-502(b) provides that unless the LLC agreement provides otherwise: [A] member is obligated to a limited liability company to perform any promise to contribute cash or property or to perform services, even if the member is unable to perform because of death, disability or any other reason.
There is no minimum or maximum requirement regarding the contribution of capital for a Delaware Limited Liability Company. We recommend standard capital contribution of US$ 500/-. It is recommended to issue stock certificates as evidence of ownership.