South Dakota LLC Operating Agreement for Married Couple

State:
Multi-State
Control #:
US-0767-WG-5
Format:
Word; 
Rich Text
Instant download

Description

To validly complete the formation of the LLC, members must enter into an Operating Agreement. This operating agreement may be established either before or after the filing of the articles of organization and may be either oral or in writing in many states.
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  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple
  • Preview LLC Operating Agreement for Married Couple

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FAQ

An operating agreement is a legally binding document that limited liability companies (LLCs) use to outline how the company is managed, who has ownership, and how it is structured. If a company is a multi-member LLC , the operating agreement becomes a binding contract between the different members.

How to Form an LLC (5 steps)Step 1 Choose Your State.Step 2 Select a Name.Step 3 Select a Registered Agent.Step 4 File for Your LLC (Articles of Organization)Step 5 Write the LLC Operating Agreement.Step 1 Name Your LLC.Step 2 State of Jurisdiction (Choose Your State)Step 3 Select Type.More items...

The form and contents of operating agreements vary widely, but most will contain six key sections: Organization, Management and Voting, Capital Contributions, Distributions, Membership Changes, and Dissolution.

Most LLC operating agreements are short and sweet, and they typically address the following five points:Percent of Ownership/How You'll Distribute Profits.Your LLC's Management Structure/Members' Roles And Responsibilities.How You'll Make Decisions.What Happens If A Member Wants Out.More items...?

10 Must Haves in an LLC Operating Agreement Member Financial Interest. What percentage ownership does each member have? Corporate Governance. Corporate Officer's Power and Compensation. Non-Compete. Books and Records Audit. Arbitration/Forum Selection. Departure of Members. Fiduciary duties.More items...

Get together with your co-owners and a lawyer, if you think you should (it's never a bad idea), and figure out what you want to cover in your agreement. Then, to create an LLC operating agreement yourself, all you need to do is answer a few simple questions and make sure everyone signs it to make it legal.

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South Dakota LLC Operating Agreement for Married Couple