Free Operating Agreement Form for Michigan
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Preview - Michigan Operating Agreement Form
Michigan Operating Agreement Template
This Operating Agreement ("Agreement") is made and entered into as of this ____ day of __________, 20___, by and between the following members:
- Member Name: ______________________
- Address: __________________________
- Email: ____________________________
Collectively referred to as "Members" or individually as "Member." This Agreement governs the operation and management of the limited liability company formed under the laws of the State of Michigan.
Article I: Formation
The Members hereby form a limited liability company ("Company") pursuant to the Michigan Limited Liability Company Act, Act 23 of 1993, as amended.
Article II: Name and Principal Office
The name of the Company shall be: ______________________.
The principal office of the Company shall be located at: ______________________.
Article III: Purpose
The purpose of the Company is to engage in any lawful act or activity for which limited liability companies may be organized in Michigan.
Article IV: Duration
The term of the Company shall commence on the date of filing the Articles of Organization and shall continue until terminated in accordance with this Agreement.
Article V: Management
- The Company shall be managed by its Members.
- Decisions shall be made by a majority vote of the Members.
Article VI: Capital Contributions
Each Member shall contribute cash, property, or services as follows:
- Member Name: ______________________, Contribution: $_____________.
- Member Name: ______________________, Contribution: $_____________.
Article VII: Distributions
Profits and losses shall be allocated to the Members in proportion to their respective ownership interests.
Article VIII: Indemnification
The Company shall indemnify Members against any losses unless caused by willful misconduct or gross negligence.
Article IX: Amendments
This Agreement may be amended only by a written agreement signed by all Members.
Article X: Governing Law
This Agreement shall be governed by, and construed in accordance with, the laws of the State of Michigan.
IN WITNESS WHEREOF, the undersigned Members have executed this Operating Agreement as of the date first above written.
_____________________________________
Member Signature
_____________________________________
Member Signature
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Similar forms
- Partnership Agreement: Similar to an Operating Agreement, this document outlines the roles, responsibilities, and ownership stakes of partners in a business. Both agreements help prevent disputes by clearly defining each party's contributions and expectations.
- Bylaws: Bylaws govern the internal management of a corporation, detailing procedures for meetings, voting, and the roles of officers. Like an Operating Agreement, they establish the framework for how the entity operates.
- Shareholder Agreement: This document is used by corporations to outline the rights and obligations of shareholders. It is akin to an Operating Agreement in that it addresses ownership, management, and transfer of shares, ensuring clarity among stakeholders.
- Business Plan: While not a governance document, a business plan outlines the strategy and goals of a business. Similar to an Operating Agreement, it provides a roadmap for the entity's operations and can guide decision-making.
- Non-Disclosure Agreement (NDA): An NDA protects confidential information shared between parties. Like an Operating Agreement, it establishes clear terms to safeguard interests and prevent misunderstandings.
- Motorcycle Bill of Sale: The Motorcycle Bill of Sale serves as a crucial document in the transfer of ownership for motorcycles, ensuring that all necessary details are captured, similar to the Auto Bill of Sale Forms which facilitate clear transactions.
- Employment Agreement: This document outlines the terms of employment for individuals within a company. It shares similarities with an Operating Agreement in that it specifies roles, responsibilities, and expectations for employees.
- Joint Venture Agreement: This agreement governs the collaboration between two or more parties for a specific project. Similar to an Operating Agreement, it outlines contributions, management, and profit-sharing among the parties involved.
- Membership Agreement: Used in limited liability companies, this document details the rights and responsibilities of members. It parallels an Operating Agreement by defining the structure and governance of the LLC.