Our multi-member LLC operating agreement template is expertly crafted by legal professionals to ensure that your business is fully compliant with state regulations and protected from legal liability, giving you peace of mind and security as you grow your enterprise.
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An Arizona multi-member LLC operating agreement is a voluntary legal document for businesses with multiple members. It outlines terms, conditions, and policies, providing legal protections for the company and members. Although not required by the state, it is recommended for asset protection. Signatures must be notarized.
This blank field is where you'll insert the official name of your limited liability company (LLC). Filling in this field correctly is crucial, as the name you choose must be unique and not infringe upon any existing trademarks. For example, if you are opening a coffee shop, you could name your LLC "Caffeine Cove, LLC."
This blank field is for the date when the operating agreement becomes effective. Typically, this would be the date when all members sign the agreement. For example, if you and your partners sign the agreement on April 27th, 2023, you would enter "April 27, 2023" in each relevant field.
In the next blank fields, you'll enter the full legal names of each member or owner of the LLC. This is important for legal and tax purposes, as each member will have specific rights, responsibilities, and ownership interests in the company. For example, if you and two friends are starting the LLC together, you would enter each person's full name in these fields.
In these fields you need to enter the date of the company’s formation and re-enter the official name of your LLC that you previously entered at the beginning of the document. Consistency is key, as this helps ensure clarity and avoid confusion.
In these fields, you'll re-enter the LLC name and then input the physical address of the company's principal business office. This address is important for receiving mail, serving as a point of contact, and establishing a legal presence within the state. For example, if your LLC's principal office is located at 123 Main Street, Phoenix, Arizona 85001, you would enter this address in the relevant fields.
First you’ll enter the full name of the registered agent. Next, you'll enter the physical address of the registered agent in Arizona. This address must be in Arizona and cannot be a P.O. Box. For example, if your registered agent's address is 456 Oak Street, Tucson, Arizona 85701, you would enter this address in the relevant field.
In the ‘Term’ blank field, you'll enter the date on which the term of the LLC commences. This is typically the date when the LLC is officially formed by filing the necessary paperwork with the state. For example, if your LLC is formed on April 1st, 2023, you would enter "April 1, 2023" in this field.
Each member should sign and neatly print or type their full name on the designated line.
Clearly printing or typing each member's name ensures that there is no confusion about who is agreeing to the terms of the operating agreement. This provides a record of each member's involvement in the LLC. If a member later claims not to be part of the LLC, their printed name on the agreement serves as evidence of their involvement.
Moreover, by signing the document, each member demonstrates their agreement to the terms and their intention to be legally bound by them. A signature is a formal acknowledgment of the member's consent and commitment. If a member signs the operating agreement and later tries to avoid their responsibilities, their signature can be used as evidence of their agreement to the terms.
Begin by filling in your LLC's name, which will clearly identify the entity for which this operating agreement applies. For example, if your company is called "Sunshine Bakery, L.L.C.," write "Sunshine Bakery" in the blank space.
Next, provide the date when the list of members is accurate, serving as a reference point for record-keeping purposes. For instance, if you and your partners decide to document your LLC's members on July 15, 2023, fill in "15" for Day, "July" for Month, and "2023" for Year.
Proceed by listing each member's full name and address, which establishes their identity and contact information.
Once the list is complete, each authorizing member should print or type their full name, confirming their agreement with the listing. For example, if you're authorizing the listing, print or type "John Smith" on the designated line. Finally, each authorizing member should sign their name next to their printed name, formally validating the document and demonstrating their agreement with the contents of the listing.
Begin by filling in your LLC's name to identify the entity associated with the operating agreement. For example, since your company is called "Sunshine Bakery, L.L.C.," write "Sunshine Bakery" in the blank space. Next, list each member's full name, the dollar amount of their capital contribution, and their percentage ownership in the LLC.
This information establishes each member's financial investment and helps determine their share of profits and losses. For instance, if you're a member of the LLC and contribute $40,000, holding a 40% ownership stake, you would write your name, "$40,000," and "40%" in the respective columns.
Fill in the date when the members signed and agreed to the capital contributions. This serves as a record of when the contributions were made and can help resolve disputes about the timing of investments. If you and your partners agree to the capital contributions on September 30, 2023, you would fill in "30" for Day, "September" for Month, and "2023" for Year.
Each member should then print or type their full name, confirming their agreement with the capital contributions listed. For example, if you're agreeing to the capital contributions, you would print or type your name, "John Smith," on the designated line. Finally, each member should sign their name next to their printed name, formally validating the document and demonstrating their agreement with the contents of the listing.
Start by filling in your LLC's name again to identify the entity associated with the operating agreement. Next, list each member's full name and the valuation endorsement for their interest in the LLC. This information establishes the agreed-upon value of each member's stake in the company and can be used as a reference during potential buyouts, sales, or other transactions.
Example: If you're a member of the LLC and the agreed-upon value of your interest is $75,000, you would write your name and "$75,000" in the respective columns.
Fill in the date when the members signed and agreed to the valuation endorsements. This serves as a record of when the valuations were determined and can help resolve disputes about the timing or value of the endorsements. If you and your partners agree to the valuations on October 31, 2023, you would fill in "31" for Day, "October" for Month, and "2023" for Year.
Each member should then print or type their full name, confirming their agreement with the valuation endorsements listed. For example, if you're agreeing to the valuations, you would print or type your name, "John Smith," on the designated line. Finally, each member should sign their name next to their printed name, formally validating the document and demonstrating their agreement with the contents of the listing.
You don't need to fill anything in the Notary Seal of Acknowledgment section yourself, as this part is completed by a notary public in Arizona. The notary public will verify the signer's identity, confirm that they are the person(s) named in the document, and ensure that the signer acknowledges they executed the document in their authorized capacity. The notary will then certify, under penalty of perjury, that the statements in the acknowledgment are true and correct, and they will sign, date, and apply their official seal to complete the notarization process.
