Georgia Operating Agreement between NBC Internet, Inc. and Telocity, Inc.
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How to fill out Operating Agreement Between NBC Internet, Inc. And Telocity, Inc.?
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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 ...
Georgia state law doesn't require you to have an operating agreement. However, Georgia state policy gives ?maximum effect? to freedom of contract, so a strong operating agreement can give you a lot of power to better control your LLC in this state.
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.
Under the default rules, every member of the LLC is an agent of the LLC and can conduct business on behalf of the LLC. In other words, each member has the authority to bind the LLC in ordinary business transactions, whether or not the member has the consent of the other members. See OCGA §14-11-301.
Georgia Business License Requirements Georgia doesn't require a business license at the state level, but all Georgia LLCs need a business or operating license from their city or county.