Georgia Sample Joint Venture Agreement - Limited Liability Company LLC Form
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How to fill out Sample Joint Venture Agreement - Limited Liability Company LLC Form?
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FAQ
Your business name must include the words Limited Liability Company, LLC, or L.L.C. Your name must be different from an existing business in the state. You can do a search on the Secretary of State's website to determine if a particular business name is in use. For name availability in Georgia, check this link.
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 doesn't have a general business license for LLCs, so there are no fees there. If your business has to get an occupational license or municipal (city or county) permit, the fees are hard to predict. Depending on your LLC's location, and what type of business or industry you're in, the fee varies.
To add a member to your LLC, you will need to amend your Georgia LLC operating agreement. Your operating agreement contains your members' names and addresses, so when you add a new member, you'll need to update the operating agreement with the new member's information.
Georgia state law doesn't require you to have an operating agreement.
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.
