This sample Operating Agreement describes the rules by which the Members agree to govern the company. Modify to suit your needs.
Chandler Arizona Sample Operating Agreement for Professional Limited Liability Company LLC is a legal document that outlines the terms and conditions governing the operation and management of a professional limited liability company (LLC) in Chandler, Arizona. This agreement serves as a guide for the members of the LLC and helps establish the rules and responsibilities involved in running the business. Keywords: Chandler Arizona, Sample Operating Agreement, Professional Limited Liability Company, LLC The Chandler Arizona Sample Operating Agreement for Professional Limited Liability Company LLC includes various clauses and provisions crucial for the smooth functioning of the LLC. Some key elements covered in this agreement are: 1. Identification of the LLC: This section provides the legal name, address, and purpose of the LLC. It describes the specific professional services the LLC will provide and specifies that it operates under the rules and regulations of the Arizona Revised Statutes. 2. Members: This clause identifies the members of the LLC, their roles, and their respective ownership percentages. It establishes the voting rights and decision-making authority of each member. 3. Contributions and Capital: This section outlines the initial capital contributions made by the members and explains how additional capital will be contributed in case of future requirements. It also explains the procedure for transferring ownership interests and addresses the issue of member withdrawal or expulsion. 4. Management: This clause defines the management structure of the LLC. It outlines whether the LLC will be managed by its members or if a designated manager will be appointed. Additionally, the agreement may provide information about the allocation of profits and losses among members. 5. Meetings and Voting: This section establishes guidelines for conducting meetings, including notice requirements, quorum, and voting procedures. It ensures that all decisions made by the members are documented and legally binding. 6. Dissolution and Termination: This clause outlines the circumstances under which the LLC may be dissolved, such as bankruptcy, member resignation, or court order. It also specifies the steps to be taken for winding up the affairs of the LLC and distributing assets. Types of Chandler Arizona Sample Operating Agreement for Professional Limited Liability Company LLC: 1. Single-Member LLC Operating Agreement: This type of agreement is suitable for PLL Cs that have only one member. It addresses the unique considerations and regulations related to a single-member structure. 2. Multi-Member LLC Operating Agreement: This agreement is designed for PLL Cs with multiple members. It caters to the complexities of decision-making, profit sharing, and governance that arise when there are multiple participants. 3. Customizable LLC Operating Agreement: Some PLL Cs may require a custom operating agreement tailored to their specific needs. This type of agreement allows flexibility in addressing unique requirements not covered by a standard sample operating agreement. In conclusion, the Chandler Arizona Sample Operating Agreement for Professional Limited Liability Company LLC serves as a comprehensive blueprint for PLL Cs operating in Chandler, Arizona. It addresses key aspects of the LLC's structure, management, decision-making, and dissolution. By following the guidelines laid out in this agreement, LLC members can ensure a clear and well-defined business operation while adhering to the legal requirements set forth by the state of Arizona.
