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Commonly Asked Questions about Legal Documents for Limited Liability Companies

A limited liability company (LLC) is a business structure that offers limited liability protection and pass-through taxation. As with corporations, the LLC legally exists as a separate entity from its owners. Therefore, owners cannot typically be held personally responsible for the LLCs debts and liabilities. Definition and steps on how to form an LLC | Wolters Kluwer Wolters Kluwer expert-insights how-t Wolters Kluwer expert-insights how-t
An operating agreement is a legal document, essentially a contract, that outlines the internal structure of an LLC and provides details about how the business will be managed, the rights and responsibilities of each member, how members will be paid, and procedures in case of dispute among members or dissolution of the
Domestic and foreign limited liability companies (LLCs) are required by Section 301(e) of the Limited Liability Company Law to file a Biennial Statement every two years with the New York Department of State setting forth the address to which the New York Secretary of State shall mail a copy of any process accepted on
operating agreement An operating agreement is a key document used by LLCs because it outlines the business financial and functional decisions including rules, regulations and provisions. Basic Information About Operating Agreements - SBA Small Business Administration (.gov) blog basic-information-about- Small Business Administration (.gov) blog basic-information-about-
Certificate of Organization Required Governance Document - Certificate of Organization Every LLC requires a Certificate of Organization (also known as Articles of Organization). LLC Governance Requirements - MyCorporation MyCorporation learningcenter gove MyCorporation learningcenter gove
To make your new LLC officially exist you must file LLC formation documents (also known as a Certificate of Organization, Certificate of Formation, or Articles of Organization) with the Secretary of States office or whichever department handles business filings in the state in which you are forming.
Whats the difference between a PLLC and an LLC? Both a PLLC and an LLC offer the same liability protection to their members. The only difference is that some states require licensed professionals to form PLLCs and theyre not allowed to form LLCs. Also, PLLCs have stricter requirements and are governed more closely.
This document is generally called the Certificate of Formation (Delaware) or Articles of Organization (California). The second charter document for an LLC is its operating agreement which is analogous to (and closely resembles) a partnership agreement. Limited Liability Companies (LLC): The Basics - Cooley GO Cooley GO llc-basics Cooley GO llc-basics