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Preview - Georgia Operating Agreement Form
Georgia Operating Agreement Template
This Operating Agreement is designed for a Limited Liability Company (LLC) formed in the state of Georgia, and it is in accordance with the Georgia Limited Liability Company Act (Ga. Code Ann. § 14-11-100 et seq.). This document is intended to outline the governance, management, and operational guidelines of the LLC.
Operating Agreement for: _______________________________
Effective Date: _______________________________
Article I: Formation
The Members hereby form an LLC under the laws of the state of Georgia. The name of the LLC is: ___________________________.
Article II: Purpose
The purpose of the LLC is to: ______________________________________ and to conduct any lawful business permitted under Georgia law.
Article III: Members
The Members of the LLC are:
- Name: _______________________________
- Address: _______________________________
- Ownership Percentage: ____%
- Name: _______________________________
- Address: _______________________________
- Ownership Percentage: ____%
Article IV: Management
The LLC shall be managed by:
- All Members.
- A designated Manager: _______________________________.
Article V: Voting
Decisions shall be made based on the following voting structure:
- Members with _____% or more ownership shall have 1 vote.
- Additional voting percentages may be established as needed.
Article VI: Distributions
Profits and losses will be distributed among Members in accordance with their ownership percentages unless outlined otherwise in this Agreement.
Article VII: Indemnification
The LLC agrees to indemnify its Members against any and all expenses and liabilities incurred in connection with the LLC, to the fullest extent permitted by Georgia law.
Article VIII: Amendments
This Operating Agreement may be amended only by a written agreement signed by all Members.
Article IX: Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the state of Georgia.
Signatures:
- _____________________________ (Member 1)
- _____________________________ (Member 2)
Date: _______________________________
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Similar forms
An Operating Agreement is a crucial document for limited liability companies (LLCs) that outlines the management structure and operating procedures. However, it shares similarities with several other important documents. Below are seven documents that are comparable to an Operating Agreement, along with explanations of their similarities:
- Partnership Agreement: Like an Operating Agreement, a Partnership Agreement defines the roles, responsibilities, and profit-sharing arrangements among partners. It serves to clarify expectations and minimize disputes.
- Bylaws: Bylaws are similar to Operating Agreements for corporations. They outline the governance structure, including the roles of directors and officers, and set rules for meetings and decision-making processes.
- Shareholder Agreement: This document is used by corporations and details the rights and obligations of shareholders. Much like an Operating Agreement, it governs how the company operates and how decisions are made.
- LLC Membership Certificate: This document serves as proof of ownership in an LLC. While it doesn't outline operational procedures, it is often accompanied by an Operating Agreement that details how ownership interests are managed.
- Joint Venture Agreement: A Joint Venture Agreement outlines the terms of collaboration between two or more parties. Similar to an Operating Agreement, it defines roles, contributions, and how profits or losses will be shared.
- Operating Guidelines: These guidelines provide a framework for the daily operations of a business. They are akin to an Operating Agreement in that they establish procedures and protocols for smooth functioning.
- Motorcycle Bill of Sale: This document is critical for the transfer of motorcycle ownership and serves as proof of purchase, similar to how the Operating Agreement clarifies ownership and responsibilities within an LLC. For more details, you can refer to Auto Bill of Sale Forms.
- Business Plan: Although primarily a strategic document, a Business Plan can include operational details and management structures. It shares similarities with an Operating Agreement by outlining how the business will be run and its goals.