Free Operating Agreement Form for California
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Preview - California Operating Agreement Form
California LLC Operating Agreement Template
This California LLC Operating Agreement ("Agreement") is made as of [Date] by and among the following members:
- [Member 1 Name], [Address]
- [Member 2 Name], [Address]
- [Additional Members as needed]
In accordance with California Corporations Code Section 17701.02, this Operating Agreement is established to set forth the rights, duties, and obligations of the members. By signing this Agreement, all members agree to the following terms and conditions:
Article I: Formation
The members hereby form a Limited Liability Company under the laws of the State of California, to be named [LLC Name] ("Company"). The principal office will be located at [Address]. The members agree to conduct the business of the Company in compliance with California law.
Article II: Purpose
The purpose of the Company is to engage in any lawful business activity permitted under California law. Further details may include [specify business activities].
Article III: Management
The Company shall be managed by its members. Each member shall have the authority to act on behalf of the Company unless otherwise stated in this Agreement.
Article IV: Capital Contributions
Each member agrees to contribute capital to the Company as follows:
- [Member 1 Name]: [Contribution Amount]
- [Member 2 Name]: [Contribution Amount]
- [Additional Members as needed]
Article V: Profit and Loss Distribution
Profits and losses shall be allocated to the members based on their percentage of ownership in the Company. Ownership percentages are as follows:
- [Member 1 Name]: [Ownership Percentage]
- [Member 2 Name]: [Ownership Percentage]
- [Additional Members as needed]
Article VI: Amendments
This Agreement may be amended only with the written consent of all members. Amendments shall be documented and kept with the official records of the Company.
Article VII: Miscellaneous
Should any provision of this Agreement be found invalid or unenforceable, the remaining provisions shall continue in full force and effect. This Agreement constitutes the entire agreement among members and supersedes any prior agreements.
IN WITNESS WHEREOF, the members have executed this Operating Agreement as of the date first written above.
- [Member 1 Signature] - [Date]
- [Member 2 Signature] - [Date]
- [Additional Members as needed]
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Similar forms
The Operating Agreement is a crucial document for businesses, particularly for limited liability companies (LLCs). However, several other documents serve similar purposes in different contexts. Here are six documents that share similarities with the Operating Agreement:
- Partnership Agreement: This document outlines the terms and conditions under which partners operate a business together. Like the Operating Agreement, it specifies the roles, responsibilities, and profit-sharing arrangements among partners, fostering clarity and reducing potential disputes.
- Bylaws: Bylaws govern the internal management of a corporation. Similar to an Operating Agreement, they detail the structure of the organization, including the roles of directors and officers, meeting protocols, and voting procedures, thereby ensuring smooth governance.
- Vehicle/Vessel Transfer Form: Required for the transfer of ownership in California, the California Fotm Reg 262 form is crucial for correctly completing the title transfer process, ensuring all necessary information is properly filled out.
- Shareholder Agreement: This agreement is used by corporations to define the rights and obligations of shareholders. Much like an Operating Agreement, it addresses issues such as share transfers, voting rights, and management decisions, helping to align the interests of all shareholders.
- Joint Venture Agreement: When two or more parties come together for a specific project, they often create a Joint Venture Agreement. This document, akin to an Operating Agreement, outlines each party's contributions, responsibilities, and profit-sharing arrangements, ensuring that all parties are on the same page.
- LLC Membership Agreement: This document, often used interchangeably with an Operating Agreement, specifies the rights and responsibilities of LLC members. It addresses issues such as management structure and profit distribution, similar to what is found in an Operating Agreement.
- Franchise Agreement: A Franchise Agreement governs the relationship between a franchisor and a franchisee. While it has its unique elements, it shares similarities with an Operating Agreement by outlining the rights and obligations of both parties, including operational guidelines and payment structures.