LLC Operating Agreement for Multimember Company | USA

Set out the procedure for meetings of members and managers of a USA limited liability company with this template Bylaw of LLC form.

Topics Covered in the Bylaw

• Procedures for holding annual and special meetings of the members.
• Steps for giving notice of meetings to the members.
• Explanation of what constitutes a quorum for a meeting.
• Details of how meetings of the managers of the LLC are to be conducted.

Format and Jurisdiction

The Bylaw of Limited Liability Company template is available as a downloadable and fully editable MS Word document. This LLC Bylaw can be used throughout the United States.

This Transfer of Membership Interest form should be attached as an addendum to the original LLC Operating Agreement for a USA limited liability company.

Purpose of Transfer of Interest

The Transfer addendum sets out the rules which will govern how a membership interest can be transferred from a departing or deceased member of the LLC to a related party (spouses or family members) or to a non-related party.

Key Provisions

The Transfer of Interest addendum covers the following procedures:

• permitted transfers to related parties;
• voluntary transfers to non-related parties;
• involuntary transfers to related and non-related parties;
• method of determining purchase value;
• payment of purchase value;
• admission of new members.

Format and Jurisdiction

The Transfer of LLC Membership Interest form is a downloadable MS Word document that is fully editable to fit your specific circumstances. It is intended to be used only for limited liability companies formed in the United States.

Set up a limited liability company in the U.S. under this LLC Formation Agreement between the members of the company.

• This is an informal preliminary agreement which the members can put in place so they can proceed with filing Articles of Organization and forming the company, prior to entering into a formal operating agreement.
• The members agree that this is a preliminary agreement only and that they intend to execute a more complex agreement within a reasonable time.
• The members will manage the business of the LLC and will vote according to their proportionate interests.
• The members are free to carry on other businesses as long as they do not compete or conflict with the business of the LLC.
• The members agree that disputes will be settled by arbitration.
• The LLC Formation Agreement can be used throughout the United States.
• Available as a fully editable MS Word document. Buy, download, edit to fit your circumstances, and have each party sign.

Have each member in a USA limited liability company put in writing how their membership interests were acquired with this Member Representation form.

• Representations of Member. Each member represents that:
  • They have acquired their membership interest in the LLC for investment purposes only.
  • The member has the knowledge and experience necessary to evaluate the economic risks of acquiring the membership interest.
  • The member understands that they may bear the risk of an investment in the company for an indefinite period of time.
• Registration of Interests. Only the LLC has the right to register Membership Interests, but it is under no obligation to do so.
• Format. This template is available in MS Word format and is fully editable to fit your specific circumstances.
• Jurisdiction. This LLC Member Representation form is intended for use only within the United States.