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While a written operating agreement isn't required (per Idaho Statute § 30-25-102), your operating agreement is an essential document for many important aspects of your business, from opening a bank account to handling major events (like fighting lawsuits).
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 ...
The court may not render judgment for more than the amount by which the entire amount of indebtedness due at the time of sale exceeds the fair market value at that time, with interest from date of sale, but in no event may the judgment exceed the difference between the amount for which such property was sold and the ...
To remove a member from your LLC, a withdrawal notice, a unanimous vote, or a procedure depicted in the articles of organization may entail. The member in question of removal may need to get compensated for his share of membership interests.
Idaho LLC Formation Filing Fee: $100. Idaho Annual Report Fee: $0. Idaho Registered Agent Fee. Idaho State Business License Fee.
Delaware does NOT require an operating agreement. However, it is highly recommended to have a LLC operating agreement even if you are only a single member LLC. The state of Delaware recognizes operating agreements and governing documents.
Contents Name your Idaho LLC. Choose your registered agent. Prepare and file certificate of organization. Receive a certificate from the state. Create an operating agreement. Get an Employer Identification Number. Next steps.
Any time you transfer an ownership interest in an LLC, there must be an official certificate of transfer. New members will need to be recorded on the company's annual report, which is filed with the Idaho Secretary of State.