Can I create my own operating agreement for my LLC?

In essence, state law provides a standard operating agreement if you don't create your own.In the absence of an operating agreement, LLC owners could be subject to personal liability if it looks like they are operating a sole proprietorship or a partnership.

Is an LLC agreement the same as an operating agreement?

An LLC can be structured to be taxed in the same manner as a partnership however the owners or partners of a partnership are jointly and severally liable for the debts and obligations of the partnership.The operating agreement is a separate document and is an agreement between the owners of the LLC.

Do LLCs have operating agreements?

An operating agreement is a document which describes the operations of the LLC and sets forth the agreements between the members (owners) of the business. All LLC's with two or more members should have an operating agreement. This document is not required for an LLC, but it's a good idea in any case.

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New Hampshire Limited Liability Company LLC Operating Agreement

Nh Llc Operating Agreement

New Hampshire Limited Liability Company LLC Operating Agreement

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Category:

New Hampshire Limited Liability Companies - Operating Agreements

State:

New Hampshire

Control #:

NH-00LLC-1

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Description Forming An Llc In Nh

This Operating Agreement is used in the formation of any Limited Liability Company. You make changes to fit your needs and add description of your business. Approximately 10 pages. It allows for eventual adding of new Members to LLC.

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FAQ

The core elements of an LLC operating agreement include provisions relating to equity structure (contributions, capital accounts, allocations of profits, losses and distributions), management, voting, limitation on liability and indemnification, books and records, anti-dilution protections, if any, restrictions on ...

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