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An LLC Operating Agreement is an essential legal document that outlines the management and operation of a limited liability company (LLC). It sets the foundation for the rules and guidelines that govern the company's operations, ownership structure, management, and decision-making processes. Follow the instructions below to fill in the blank fields in the agreement for a company formed in Oregon.
Fill in the full name of the LLC, which is important for identifying the company in all legal documents and business transactions. This helps to differentiate the company from other entities and ensures proper record-keeping.
Enter the date when the Agreement was signed. This date is crucial for establishing when the operating agreement became effective and serves as a reference point for future legal and tax matters.
Check the appropriate box to indicate whether the LLC is a single-member or multi-member entity. This information is important for tax purposes and for determining the rights and responsibilities of the members.
For a single-member LLC, provide the name and mailing address of the sole owner. For a multi-member LLC, list the names, percentage ownership, and mailing addresses of each member. This information is essential for identifying the parties involved in the company and ensuring proper distribution of profits and losses, as well as determining the voting power and decision-making authority of each member.
Restate the LLC's name in this section to confirm the official name under which the company will operate. Consistent use of the company name in all documents helps ensure clarity and avoid confusion in legal and business matters. Next, fill in the complete address of the company's principal place of business, which is the main location where the company conducts its operations. This address is significant for establishing the company's jurisdiction and for legal and tax purposes.
Fill in the date when the LLC was formed by filing the Articles of Organization with the office of the Secretary of State. This date is important for establishing the legal existence of the company and serves as a reference point for tax and legal purposes.
Provide the name of each member and their corresponding capital contribution. This information is critical for determining each member's financial stake in the company, as well as their share of profits, losses, and tax responsibilities.
Fill in the name of the LLC, which should be consistent throughout the document. This ensures clarity and prevents confusion in legal and business matters. Next, fill in the date when the Agreement was signed, which is important for establishing when the operating agreement became effective and serves as a reference point for future legal and tax matters.
In the final section titled "Member's Signature," visitors should sign, date, and print their name in the corresponding blanks. It is crucial to sign the agreement as it serves as a legally binding contract between the parties. This is also important to ensure proper identification and record-keeping of who signed the agreement.
By filling in all the required fields in this Limited Liability Company Operating Agreement, you ensure the document accurately reflects the structure, ownership, and operational details of their LLC while maintaining compliance with applicable laws and regulations. This information is critical for establishing a legally binding agreement that protects the interests of the members and governs the company's operations in compliance with the laws of the State of Oregon.