New York Exhibit A to Operating Agreement - Contract Area and Parties - Form 2
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How to fill out Exhibit A To Operating Agreement - Contract Area And Parties - Form 2?
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FAQ
In New York, an LLC Operating Agreement does not need to be notarized. That said, if you plan on using the agreement as evidence in a legal case, it may be beneficial for all signatories to have their signatures notarized.
The Operating Agreement is the primary document that establishes the rights, powers, duties, liabilities and obligations of the members between themselves and with respect to the LLC. The Operating Agreement is an internal document of the LLC and is not filed with the Department of State.
New York has some of the most stringent requirements for the operating agreement. The agreement needs to be entered into before, at the time of, or within 90 days after the filing of the Articles of Organization. The document doesn't need to be notarized or filed with the state.
The process of adding a member to a New York LLC may involve amending the company's articles of organization to include the new member. Depending on the terms in the agreement, current LLC members may need to vote on it for the amendment to pass.
Mail filings: In total, mail filing approvals for New York LLCs take 8 1/2 months. This accounts for the 8 month processing time, plus the time your documents are in the mail. Online filings: Online filings for New York LLCs are approved immediately if you file your documents during business hours.
Operating agreements do not cost money, since no state requires you to file an official copy. Instead, it's recommended that you hire a lawyer to help you craft this complex and crucial legal document.
