This Company 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.
The Harris Texas Limited Liability Company (LLC) Company Agreement is a legal document that outlines the rights, obligations, and operating procedures of an LLC registered in Harris County, Texas. The agreement serves as a foundational document for the LLC, providing clarity and transparency in the management and operation of the business. It sets out the internal governance structure, decision-making processes, and the responsibilities of its members and managers. Some key provisions typically included in a Harris Texas LLC Company Agreement are: 1. Formation: The agreement will specify the LLC's name, principal place of business, and the duration of its existence. 2. Purpose: It will define the purpose and nature of the business conducted by the LLC. 3. Members: The agreement will identify the initial members of the LLC and outline the procedures for admitting new members in the future. 4. Capital Contributions: It will describe the capital contributions made by each member, clarifying their ownership interests and profit/loss allocations. 5. Management: The agreement will outline whether the LLC will be member-managed or manager-managed. For member-managed LCS, all members actively participate in decision-making, while manager-managed LCS designate specific individuals (managers) to handle day-to-day operations. 6. Voting: The agreement will establish the procedures and rules for voting on critical matters, such as amending the agreement, admitting new members, or dissolving the LLC. 7. Distributions and Allocations: It will define how profits and losses are distributed among the members, often based on their capital contributions or other agreed-upon criteria. 8. Dissociation and Transfers: The agreement will outline the conditions and procedures for a member to voluntarily or involuntarily leave the LLC, as well as the limitations on transferring ownership interests. 9. Buy-Sell Provisions: It may include provisions allowing members to buy out or sell their ownership interests in the event of voluntary or involuntary withdrawal. 10. Dissolution: The agreement will specify the circumstances under which the LLC can be dissolved and the procedures for winding up its affairs. It's important to note that the exact content of the Harris Texas LLC Company Agreement may vary depending on the specific needs and preferences of the LLC and its members. There are no specific types of Harris Texas LLC Company Agreement mentioned. However, the content and provisions within the agreement can be customized to meet the unique requirements and goals of different LCS operating in Harris County, Texas.The Harris Texas Limited Liability Company (LLC) Company Agreement is a legal document that outlines the rights, obligations, and operating procedures of an LLC registered in Harris County, Texas. The agreement serves as a foundational document for the LLC, providing clarity and transparency in the management and operation of the business. It sets out the internal governance structure, decision-making processes, and the responsibilities of its members and managers. Some key provisions typically included in a Harris Texas LLC Company Agreement are: 1. Formation: The agreement will specify the LLC's name, principal place of business, and the duration of its existence. 2. Purpose: It will define the purpose and nature of the business conducted by the LLC. 3. Members: The agreement will identify the initial members of the LLC and outline the procedures for admitting new members in the future. 4. Capital Contributions: It will describe the capital contributions made by each member, clarifying their ownership interests and profit/loss allocations. 5. Management: The agreement will outline whether the LLC will be member-managed or manager-managed. For member-managed LCS, all members actively participate in decision-making, while manager-managed LCS designate specific individuals (managers) to handle day-to-day operations. 6. Voting: The agreement will establish the procedures and rules for voting on critical matters, such as amending the agreement, admitting new members, or dissolving the LLC. 7. Distributions and Allocations: It will define how profits and losses are distributed among the members, often based on their capital contributions or other agreed-upon criteria. 8. Dissociation and Transfers: The agreement will outline the conditions and procedures for a member to voluntarily or involuntarily leave the LLC, as well as the limitations on transferring ownership interests. 9. Buy-Sell Provisions: It may include provisions allowing members to buy out or sell their ownership interests in the event of voluntary or involuntary withdrawal. 10. Dissolution: The agreement will specify the circumstances under which the LLC can be dissolved and the procedures for winding up its affairs. It's important to note that the exact content of the Harris Texas LLC Company Agreement may vary depending on the specific needs and preferences of the LLC and its members. There are no specific types of Harris Texas LLC Company Agreement mentioned. However, the content and provisions within the agreement can be customized to meet the unique requirements and goals of different LCS operating in Harris County, Texas.
