This Operating Agreement is for a Limited Liability Company with only one Member. This form may be perfect for an LLC started by one person. 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 King Washington Single Member Limited Liability Company LLC Operating Agreement is a legal document that outlines the rights, responsibilities, and operating procedures for a single-member limited liability company (LLC) based in the state of Washington. It serves as a crucial contract between the LLC's sole member and the company itself. The operating agreement contains various provisions that govern how the LLC will be managed and operated, ensuring clarity and avoiding disputes. This agreement helps establish the company's identity as a separate legal entity, protecting the member's personal assets from business liabilities. It also allows the member to define their ownership stake and profit distribution, along with the company's governance structure and decision-making processes. Additionally, the operating agreement outlines the procedures for admitting new members, transferring ownership, and dissolving the LLC. While there may be variations in content depending on individual circumstances, the King Washington Single Member Limited Liability Company LLC Operating Agreement typically includes these key sections: 1. Formation: This section outlines the LLC's name, principal place of business, and the duration of the company. 2. Purpose: It describes the specific activities and objectives the LLC will engage in, ensuring that the member's intentions and goals are clearly defined. 3. Membership Interest: This section outlines the member's ownership interest in the company, including the initial capital contribution, profit and loss allocation, and any restrictions on transferring ownership. 4. Management: It defines how the LLC will be managed, whether by the member themselves or a designated manager, and outlines their respective powers and duties. 5. Meetings and Voting: This section establishes the procedures for holding meetings, voting on important matters, and decision-making processes within the LLC. 6. Dissolution: It describes the circumstances under which the LLC may be dissolved, including events such as bankruptcy, member resignation, or member death. 7. Additional Provisions: This section includes any additional clauses or provisions that the member wishes to include, such as non-compete agreements, confidentiality clauses, or dispute resolution mechanisms. It's important to note that the specific content and sections of the operating agreement may vary depending on the requirements set by the Washington State Limited Liability Company Act and the unique needs of the single member and their business. It is recommended to consult with a legal professional familiar with Washington state law when drafting or reviewing a King Washington Single Member Limited Liability Company LLC Operating Agreement.The King Washington Single Member Limited Liability Company LLC Operating Agreement is a legal document that outlines the rights, responsibilities, and operating procedures for a single-member limited liability company (LLC) based in the state of Washington. It serves as a crucial contract between the LLC's sole member and the company itself. The operating agreement contains various provisions that govern how the LLC will be managed and operated, ensuring clarity and avoiding disputes. This agreement helps establish the company's identity as a separate legal entity, protecting the member's personal assets from business liabilities. It also allows the member to define their ownership stake and profit distribution, along with the company's governance structure and decision-making processes. Additionally, the operating agreement outlines the procedures for admitting new members, transferring ownership, and dissolving the LLC. While there may be variations in content depending on individual circumstances, the King Washington Single Member Limited Liability Company LLC Operating Agreement typically includes these key sections: 1. Formation: This section outlines the LLC's name, principal place of business, and the duration of the company. 2. Purpose: It describes the specific activities and objectives the LLC will engage in, ensuring that the member's intentions and goals are clearly defined. 3. Membership Interest: This section outlines the member's ownership interest in the company, including the initial capital contribution, profit and loss allocation, and any restrictions on transferring ownership. 4. Management: It defines how the LLC will be managed, whether by the member themselves or a designated manager, and outlines their respective powers and duties. 5. Meetings and Voting: This section establishes the procedures for holding meetings, voting on important matters, and decision-making processes within the LLC. 6. Dissolution: It describes the circumstances under which the LLC may be dissolved, including events such as bankruptcy, member resignation, or member death. 7. Additional Provisions: This section includes any additional clauses or provisions that the member wishes to include, such as non-compete agreements, confidentiality clauses, or dispute resolution mechanisms. It's important to note that the specific content and sections of the operating agreement may vary depending on the requirements set by the Washington State Limited Liability Company Act and the unique needs of the single member and their business. It is recommended to consult with a legal professional familiar with Washington state law when drafting or reviewing a King Washington Single Member Limited Liability Company LLC Operating Agreement.
