Indiana Ratification of Operating Agreement
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How to fill out Ratification Of Operating Agreement?
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FAQ
Typically, the business owners must write a resolution to amend the LLC Operating Agreement to change the ownership percentages and then have the owners sign it to document their approval.
When the ownership transfer is a sale of the LLC, a buy-sell agreement may be necessary. An operating agreement should specify the process for ownership transfer, but if it doesn't, you must follow state guidelines. Under some circumstances, the state may require you to form a new LLC.
Use the voting procedure if one is included in the terms of the LLC. Arrange for the member to submit a written resignation. Consider offering a buyout if the member doesn't willingly resign. Petition the court to dissolve the business if the member refuses to resign.
If you're currently the only member of a single-member LLC (SMLLC), that means you're the sole decision-maker and can add any members you want (though you should still carefully vet new business partners in any situation).
Yes, you can be your own Registered Agent in Indiana as long as you meet the state requirements. (Unfortunately, most Registered Agent Services and LLC filing companies hide this information.)
An operating agreement should include the following: Percentage of members' ownership. Meeting provisions and voting rights. Powers and duties of members and management. Distribution of profits and losses. Tax treatment preference. A liability statement. Management structure. Operating procedures.
Indiana state law does not mandate that LLCs adopt an operating agreement. Indiana state code § 23-18-4-5 states that LLCs may enter into an operating agreement but does not require them to do so. Even so, it is in your company's best interest to have a written operating agreement.
You can easily change your Indiana LLC name. The first step is to file a form called the Articles of Amendment with the Business Services Division and wait for it to be approved. This is how you officially change your LLC name in Indiana. The filing fee for the Articles of Amendment in Indiana is $20.
