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Sample Operating Agreement for Professional Limited Liability Company PLLC - District of Columbia

Sample Operating Agreement for Professional Limited Liability Company PLLC - District of Columbia 2025

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The document is a sample Operating Agreement for a District of Columbia Professional Limited Liability Company (PLLC). It outlines the formation, management, and operational guidelines for the PLLC, including member contributions, profit distribution, voting rights, and procedures for admitting new members. The agreement emphasizes the need for modifications to suit individual needs and establishes rules regarding member responsibilities, liability limitations, and dissolution processes.

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Does a PLLC have an operating agreement?

An operating agreement is a contract that the members of an LLC or PLLC unanimously adopt to govern various aspects of the business. It is distinct from the articles of organization, which are the documents filed with the state to establish the legal entity.

What are the disadvantages of a PLLC?

Disadvantages of PLLCs This limits its applicability as a business entity. Second, not all states recognize PLLCs. This can pose challenges for professionals who offer services across state lines. Lastly, establishing and maintaining a PLLC can be costly.

Can I write my own operating agreement for my LLC?

The good news is that youre free to write your operating agreement in any way that you wish. There arent any legal requirements regarding what you must include in the agreement. Drafting the best operating agreement for your LLC simply means tailoring it to your businesss specific needs.

Can an LLC not have an operating agreement?

Every LLC that is registered in the states of California, Delaware, Maine, Missouri, and New York is legally required to have an operating agreement.

What is the difference between a PLLC and an LLC?

The operating agreement is a legally binding document that is filed internally and kept at the businesss physical location. The operating agreement is not filed with the state. Although it is not a requirement to have in most states, it is considered good business practice to have an operating agreement for the LLC.

How to find the operating agreement for an LLC?

Ask a Fellow Co-Owner. Each principal in an LLC should have a copy of the operating agreement and can provide you with one if yours has been misplaced. In fact, the operating agreement itself may include language regarding the responsibility of each company officer to provide copies of documents upon request.

Does DC require an operating agreement?

Is an operating agreement required in Washington DC? No, Washington DCs statutes dont explicitly state that LLCs must have an operating agreement. However, youll need an operating agreement for several important tasks, like opening a business bank account.

Sample Operating Agreement for Professional Limited Liability Company PLLC - District of Columbia 2025

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