Louisiana Lands Excluded from the Operating Agreement For Pre 1989 Agreements

State:
Multi-State
Control #:
US-OG-708
Format:
Word; 
Rich Text
Instant download

Description

This is a paragraph that sets out the Agreement that will be in force should some of the lands covered in the original Agreement no longer be subject to the Agreement, due to the lands being acquired by one or more Parties.

How to fill out Lands Excluded From The Operating Agreement For Pre 1989 Agreements?

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FAQ

These documents are ?internal? because they are not filed with the state; therefore, unlike the charter documents, these documents are not publicly accessible (unless the company makes them public). For LLCs that document is your operating agreement.

An area of mutual interest (AMI) contract describes the geographic area contained in the AMI, the rights of each party (such as the percentage interest allocated to each company), the agreement's term, and how contract provisions are to be implemented.

The document required to form an LLC in Louisiana is called the Articles of Organization.

1. n. [Oil and Gas Business] The right that nonselling participating parties have in a lease, well or unit to proportionately acquire the interest that a participating party proposes to sell to a third party.

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.

Here are the steps to forming an LLC in Louisiana Search your LLC Name. Choose a Louisiana Registered Agent. File Louisiana LLC Articles of Organization & Initial Report. Create a Louisiana LLC Operating Agreement. Get an EIN for your LLC.

Is an operating agreement required in Louisiana? There is no Louisiana law requiring LLCs to adopt an operating agreement. However, a written operating agreement is usually required to open a company bank account, and it can help you reinforce your limited liability status if you ever face a lawsuit.

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Louisiana Lands Excluded from the Operating Agreement For Pre 1989 Agreements