Washington Exhibit A to Operating Agreement - Contract Area and Parties - Form 3
Description
How to fill out Exhibit A To Operating Agreement - Contract Area And Parties - Form 3?
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FAQ
An operating agreement outlines an LLC's structure, including ownership, management structure, capital contributions, and member contributions. Writing an operating agreement requires outlining ownership, defining ownership rights and compensation, and defining the dissolution terms.
An LLC operating agreement should contain provisions to cover: Basic information about the LLC. ... A profit and loss allocation plan. ... The LLC's purpose. The management structure. ... Ownership percentages of each member. ... Voting rights and procedures. ... Meeting frequency. Procedures for bringing in new members.
The state of Washington doesn't require an LLC operating agreement being filed, so there's no specific information, responsibilities, or authorities you must include in the document. However, we always recommend using one for your internal management.
The operating agreement should include the following: Basic information about the business, such as official name, location, statement of purpose, and registered agent. Tax treatment preference. Member information. Management structure. Operating procedures. Liability statement. Additional provisions.
You don't have to submit your operating agreement to a government office, like the Secretary of State's Office, but that is required with the articles of organization. In the District of Columbia, an LLC operating agreement isn't required but is advised.
