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Can I make my own operating agreement?

Most states do not require LLCs to have this document, so many LLCs choose not to draft one. While it may not be a requirement to have an operating agreement, its actually in the best interest of an LLC to draft one. And by drafting it, Im referring to creating a written operating agreement.

Why would someone create 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, and which means someone could sue to go after you without there being any shield to protect your personal assets.

How much is an PLLC in Arizona?

The cost to start an LLC (limited liability company) online in Arizona is $50. This fee is paid to the Arizona Corporation Commission when filing the LLCs Articles of Organization.

What should an operating agreement include?

The functionality of internal affairs is outlined in the operating agreement including but not limited to: Percentage of members ownership. Voting rights and responsibilities. Powers and duties of members and managers. Distribution of profits and loses. Holding meetings.

Does Arizona allow single-member LLC?

Arizona allows formation of single-member LLCs Arizona LLCs are governed by the Arizona Limited Liability Company Act (Arizona Revised Statutes, Title 29, Chapter 4).

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