Governance document for limited liability companies
Company: {{COMPANY_NAME}}, LLC
State of Formation: {{FORMATION_STATE}}
Date: {{AGREEMENT_DATE}}
This Operating Agreement (the "Agreement") is entered into as of {{AGREEMENT_DATE}}, by and among the Members listed in Article 2 below. The Members hereby form a limited liability company under the name {{COMPANY_NAME}}, LLC, pursuant to the {{FORMATION_STATE}} Limited Liability Company Act (the "Act").
1.1 The Company is formed under the name {{COMPANY_NAME}}, LLC pursuant to the Act. A Certificate of Formation has been filed with the {{FORMATION_AGENCY}} on {{FORMATION_FILING_DATE}}.
1.2 The Company may conduct business under that name and under any other name or names upon which the Members may agree.
1.3 The purpose of the Company is to {{BUSINESS_PURPOSE}} and to engage in any lawful act or activity for which limited liability companies may be formed under the Act.
1.4 The principal office of the Company shall be located at {{PRINCIPAL_OFFICE_ADDRESS}}, or at such other location as the Members may determine from time to time.
1.5 The Company's registered agent for service of process is {{REGISTERED_AGENT_NAME}}, {{REGISTERED_AGENT_ADDRESS}}.
1.6 The Company shall commence on the date the Certificate of Formation is filed and shall continue in existence perpetually unless dissolved in accordance with the provisions of this Agreement or the Act.
2.1 The names, addresses, initial capital contributions, and Membership Interests of the initial Members are as follows:
Member 1: {{MEMBER_1_NAME}}, {{MEMBER_1_ADDRESS}} — Initial Contribution: ${{MEMBER_1_CONTRIBUTION}} — Membership Interest: {{MEMBER_1_PERCENTAGE}}%
Member 2: {{MEMBER_2_NAME}}, {{MEMBER_2_ADDRESS}} — Initial Contribution: ${{MEMBER_2_CONTRIBUTION}} — Membership Interest: {{MEMBER_2_PERCENTAGE}}%
Member 3 (if applicable): {{MEMBER_3_NAME}}, {{MEMBER_3_ADDRESS}} — Initial Contribution: ${{MEMBER_3_CONTRIBUTION}} — Membership Interest: {{MEMBER_3_PERCENTAGE}}%
2.2 The Membership Interest of each Member shall be expressed as a percentage, and the Membership Interests of all Members shall total one hundred percent (100%). A Member's Membership Interest shall determine such Member's share of the Company's profits, losses, and distributions, as well as voting rights, unless otherwise provided in this Agreement.
2.3 No Member shall be personally liable for any debt, obligation, or liability of the Company solely by reason of being a Member of the Company.
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