Free Operating Agreement Form for New York
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Preview - New York Operating Agreement Form
New York Operating Agreement Template
This Operating Agreement is made effective as of the ____ day of __________, 20__, by and between the following members:
- Member 1: ________________________
- Member 2: ________________________
- Member 3: ________________________
The members intend to form a limited liability company under the laws of the State of New York. This agreement outlines the management structure and operating procedures for the Company. The members agree as follows:
Article I: Formation
The members hereby form a limited liability company (the “Company”) under the name:
Company Name: ________________________
This agreement shall be governed by the laws of the State of New York.
Article II: Purpose
The purpose of the Company is to: ________________________________.
Article III: Duration
The duration of the Company shall be perpetual unless dissolved in accordance with this Agreement.
Article IV: Membership Interests
The members' ownership interests in the Company shall be as follows:
- Member 1: ____%
- Member 2: ____%
- Member 3: ____%
Article V: Management
The management of the Company shall be conducted by the members. Each member shall have equal rights in the management and conduct of the Company’s business.
Article VI: Voting
Decisions shall be made by a majority vote of the members. Each member's vote shall be weighted according to their ownership interest.
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 its members to the fullest extent permitted by law against any and all expenses and liabilities incurred in connection with the Company.
Article IX: Amendments
This Operating Agreement may be amended only by a written agreement signed by all members.
Article X: Miscellaneous
This Agreement constitutes the entire agreement among the members. Any prior agreements or understandings are superseded by this document.
IN WITNESS WHEREOF, the parties have executed this Operating Agreement as of the day and year first above written.
Member Signatures:
- ________________________ (Member 1)
- ________________________ (Member 2)
- ________________________ (Member 3)
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Bylaws: Similar to an Operating Agreement, bylaws outline the internal rules and procedures for the management of a corporation. They govern the rights and responsibilities of shareholders, directors, and officers, ensuring that the organization operates smoothly.
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Partnership Agreement: This document is akin to an Operating Agreement but is specifically for partnerships. It details the roles, responsibilities, and profit-sharing arrangements among partners, promoting clarity and reducing potential conflicts.
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Shareholder Agreement: A shareholder agreement serves a similar purpose to an Operating Agreement for corporations. It defines the relationship between shareholders and the management of the company, addressing issues such as share transfers and voting rights.
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LLC Membership Certificate: This document is comparable to an Operating Agreement in that it establishes the ownership interest of each member in a limited liability company (LLC). It provides proof of membership and outlines the member's rights.
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Joint Venture Agreement: Like an Operating Agreement, a joint venture agreement sets forth the terms and conditions under which two or more parties collaborate on a specific project. It outlines each party's contributions, responsibilities, and profit-sharing arrangements.