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How to clean stamp in the Operating Agreement Template

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hi my name is Chris Jackson Im a practicing business attorney I have been one for the past 25 years this video is about operating agreements for your limited liability company lets say you just set up your limited liability company or have you set it up in the past but you dont have an operating agreement this video is about what is an operating agreement why you should have one and what should be in it and if you like this video please I encourage you to click the thumbs up button and if you are interested in this kind of content on a regular basis I kindly request that you subscribe to my channel so lets get right into it the first question is what is an operating agreement and the answer is its an agreement between you the member owner of the limited liability company and the limited liability company itself if you dont have an operating agreement you are subjecting yourself to whats called piercing the corporate veil and that means that if a plaintiff sues you and makes the

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How hard is it to make operating agreement?

Drafting an operating agreement for a single-member LLC is easy, says Kaptzan. However, some single-member owners take the approach of preparing it early with strong rules to put the business in a better negotiating position when bringing in another owner.

How do you write an operating agreement?

The operating agreement should include the following: Basic information about the business, such as official name, location, statement of purpose, and registered agent. Tax treatment preference. Member information. Management structure. Operating procedures. Liability statement. Additional provisions.

Should I write my own operating agreement?

In essence, state laws provide a standard operating agreement if you dont create your own. For example, some state default rules provide that members share equally in the profits, regardless of each members contribution of capital or each members interest in the company.

Is an operating agreement important?

Having an operating agreement establishes a legal boundary between the LLC and the owner, so that the owner is not held accountable for the LLCs debts or liabilities. Otherwise, creditors to the LLC may pursue the owners personal assets.

What happens if you dont have an operating agreement?

An operating agreement is a key business document that shows your business operates like a legit company. Without the operating agreement, your state might not acknowledge you as an LLC, which means someone could sue you without there being any shield to protect your personal assets.

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