Florida Sub-Operating Agreement
Description
How to fill out Sub-Operating Agreement?
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FAQ
605.0106 Operating agreement; effect on limited liability company and person becoming member; preformation agreement; other matters involving operating agreement. 605.0107 Operating agreement; effect on third parties and relationship to records effective on behalf of limited liability company.
Florida doesn't require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you're forming your LLC in the Sunshine State, it's still a good idea to have one even if it's not legally required.
Section 605.0105, Florida Statutes, provides a list of things that an LLC's operating agreement may not do, one of which is to provide indemnification for a member or manager for certain specific actions.
Ing to Section 605.0706, Florida Statutes, in a proceeding initiated by a member of a LLC for judicial dissolution, the company may elect, or, if it fails to elect, one or more other members may elect, to purchase the entire interest of the petitioner in the company at the fair value of the interest.
§ 605.0110. Section 605.0110 - Limited liability company property (1) All property originally contributed to the limited liability company or subsequently acquired by a limited liability company by purchase or other method is limited liability company property.
Chapter 605 - FLORIDA REVISED LIMITED LIABILITY COMPANY ACT. 605.0216 - Statement of dissociation or resignation. (1) A member of a limited liability company may file a statement of dissociation with the department containing the following: (a) The name of the limited liability company.
Similarly, corporations (S corps and C corps) are not legally required by any state to have an operating agreement.