LLC Operating Agreement
LLC Operating Agreement
AGREEMENT
FOR
YOUR NAME LLC
A Limited Liability Company
ARTICLE 1
Company Formation
1.1 FORMATION. The Members hereby form a Limited Liability Company
("Company") subject to the provisions of the Limited Liability Company
Act as currently in effect as of this date. Articles of Organization shall be
filed with the Secretary of State.
1.2
NAME. The name of the Company shall be: YOUR NAME LLC.
1.3 REGISTERED AGENT. The name and location of the registered agent
of the Company
shall be:
Finizio & Finizio P.A.
106 SE 9th Street
Fort Lauderdale, FL 33316
1.4
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ARTICLE 2
Members Contributions
2.1 INITIAL CONTRIBUTIONS. The Members initially shall contribute to
the Company capital as described in Exhibit 3 attached to this Agreement.
The agreed total value of such property and cash is 350 US Dollars.
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ARTICLE 3
Profits, Losses and Distributions
3.1 PROFITS/LOSSES. For financial accounting and tax purposes the
Company's net profits or net losses shall be determined on an annual
basis and shall be allocated to the Members in proportion to each
Member's relative capital interest in the Company as set forth in Exhibit 2
as amended from time to time in accordance with Treasury Regulation
1.704-1.
ARTICLE IV
Management
4.1 MANAGEMENT OF THE BUSINESS. The name and place of residence
of each Manager is attached as Exhibit 1 of this Agreement. By a vote of
the Members holding a majority of the capital interests in the Company,
as set forth in Exhibit 2 as amended from time to time, shall elect so
many Managers as the Members determine, but no fewer than one, with
one Manager elected by the Members as Chief Executive Manager. The
elected Manager(s) may either be a Member or Non-Member.
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4.9 RECORDS. The Managers shall cause the Company to keep at its
principal place of
business the following:
(a) a current list in alphabetical order of the full name and the last
known street address
of each Member;
(b) a copy of the Certificate of Formation and the Company Operating
Agreement and all amendments;
(c) copies of the Company's federal, state and local income tax
returns and reports, if
any, for the three most recent years;
(d) copies of any financial statements of the limited liability company
for the three most recent
years.
ARTICLE V
Compensation
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ARTICLE VI
Bookkeeping
6.1 BOOKS. The Managers shall maintain complete and accurate books of
account of the Company's affairs at the Company's principal place of
business. Such books shall be kept on such method of accounting as the
Managers shall select. The company's accounting period shall be the
calendar year.
6.3 REPORTS. The Managers shall close the books of account after the
close of each calendar year, and shall prepare and send to each member
a statement of such Member's distributive share of income and expense
for income tax reporting purposes.
ARTICLE VII
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Transfers
7.1 RIGHT OF FIRST REFUSAL. If at any time a Member proposes to sell,
assign or otherwise dispose of all or any part of his interest in the
Company, such Member shall first make a written offer to sell such
interest to the other Members at a price determined by mutual
agreement. If such other Members decline or fail to elect such interest
within thirty (30) days, and if the sale or assignment is made and the
Members fail to approve this sale or assignment unanimously then,
pursuant to the applicable law, the purchaser or assignee shall have no
right to participate in the management of the business and affairs of the
Company. The purchaser or assignee shall only be entitled to receive the
share of the profits or other compensation by way of income and the
return of contributions to which that Member would otherwise be entitled.
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CERTIFICATE OF FORMATION
This Company Operating Agreement is entered into and shall become
effective as of the Effective Date by and among the Company and the
persons executing this Agreement as Members. It is the Members express
intention to create a limited liability company in accordance with applicable
law, as currently written or subsequently amended or redrafted.
The undersigned hereby agree, acknowledge, and certify that the foregoing
operating agreement is adopted and approved by each member, the
agreement consisting of 10 pages, constitutes, together with Exhibit 1,
Exhibit 2 and Exhibit 3 (if any), the Operating Agreement of Talking Arts LLC,
adopted by the members as of April 23rd, 2015.
Members:
________________________________
Signature
Percent: 50%
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Printed Name:
_________________________________
Signature
Percent: 50%
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Printed Name:
EXHIBIT 1
LIMITED LIABILITY COMPANY OPERATING AGREEMENT
FOR
Talking Arts LLC
LISTING OF MANAGERS
By a majority vote of the Members the following Managers were elected to
operate the Company pursuant to ARTICLE 4 of the Agreement:
_________________________________________
_
Printed Name:
______________________________
Printed Name:
The above listed Manager(s) will serve in their capacities until they are
removed for any reason by a majority vote of the Members as defined by
ARTICLE 4 or upon their voluntary resignation.
Signed and Agreed this 23rd day of January 2016.
_____________________________
Signature of Member
______________________________
Signature of Member
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Printed Name:
Printed Name:
EXHIBIT 2
LIMITED LIABILITY COMPANY OPERATING
AGREEMENT
FOR
Talking Arts LLC
LISTING OF MEMBERS
As of the 23rd day of April, 2015 the following is a list of Members of the
Company:
Name:
ADDRESS
Percentage 50%
Name:
ADDRESS
Percentage 50%
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__________________________________
Signature of Member
__________________________________
Signature of Member
EXHIBIT 3
LIMITED LIABILITY COMPANY OPERATING
AGREEMENT
FOR
Talking Arts LLC
CAPITAL CONTRIBUTIONS
Pursuant to ARTICLE 2, the Members' initial contribution to the Company
capital is stated to be $XXXX. The description and each individual portion of
this initial contribution is as follows:
Member
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____________________________________
Member