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Professional Limited Liability Company (PLLC) ? means a limited liability company that is a unique form of business organization permitted to be established under North Carolina law, which is created by an Operating Agreement (rather than Articles of Incorporation for a corporation), owned by members (rather than ...
No, it's not legally required in North Carolina under § 57D-2-30. Single-member LLCs need an operating agreement to preserve their corporate veil and to prove ownership. And multi-member LLCs need one to help provide operating guidance, determine voting rights and contributions.
North Carolina LLC Operating Agreement Laws North Carolina General Statutes Chapter 57D, § 57D-2-30: Though an Operating Agreement is not required to form an LLC in North Carolina, it is highly recommended to have one. This provides an opportunity to establish the internal guidelines, roles, and rules of the LLC.
Most states do not require LLCs to have this document, so many LLCs choose not to draft one. While it may not be a requirement to have an operating agreement, it's actually in the best interest of an LLC to draft one. And by drafting it, I'm referring to creating a written operating agreement.
North Carolina General Statute 55B requires any limited liability company organized after June 5, 1969 to qualify in North Carolina as a Professional Limited Liability Company (PLLC). To qualify as a Professional Limited Liability Company, ownership of the firm must meet N.C.G.S.
Your North Carolina LLC operating agreement is a legal document that establishes rules for how your LLC will handle procedures like voting, allocating profits and losses, management, and even?should it ever come to this?dissolution.