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How to use or fill out Sample Operating Agreement for Professional Limited Liability Company PLLC - Georgia

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the name of your LLC at the top of the document. Ensure that it complies with Georgia naming requirements.
In Article I, specify the formation date and list all initial members along with their respective contributions and percentage interests.
Proceed to Article II and detail each member's professional qualifications, ensuring they are licensed to practice in Georgia.
In Article III, choose how your LLC will be managed—either by members or appointed managers—and fill in the necessary details regarding management structure.
Complete Articles IV through X by detailing contributions, profit sharing, voting rights, and any restrictions on transferability of interests.
Finally, ensure all members sign at the end of the document. You can easily add signatures using our platform’s signing feature.

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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 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.

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 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.

pllc operating agreement template

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