Operating agreement for LLC
2
1.4 TERM. The Company shall continue for a period [insert term length]
________________ unless dissolved by:
____________________________________________________________.
(a) Members whose capital interest as defined in Article 2.2 exceeds 50 percent vote for
dissolution; or (b) Any event which makes it unlawful for the business of the Company to
be carried on by the Members; or
© {Year} {Company name}.
(d) Any other event causing a dissolution of a Limited Liability Company under the laws
of the State of Vermont.
1.5 CONTINUANCE OF COMPANY. Notwithstanding the provisions of ARTICLE
1.4, in the event of an occurrence described in ARTICLE 1.4(c), if there are at least two
remaining Members, said remaining Members shall have the right to continue the
business of the Company. Such right can be exercised only by the unanimous vote of the
remaining Members within ninety (90) days after the occurrence of an event described in
ARTICLE 1.4(c). If not so exercised, the right of the Members to continue the business
of the Company shall expire.
1.6 BUSINESS PURPOSE. The purpose of the Company is to engage in any lawful act
or activity for which a Limited Liability Company may be formed under the Limited
Liability statutes of the State of Vermont.
1.7 PRINCIPAL PLACE OF BUSINESS. The location of the principal place of business
of the Company shall be:
[insert principal place of business address]
or at such other place as the Managers from time to time select.
1.8 THE MEMBERS. The name and place of residence of each member are contained in
Exhibit 2 attached to this Agreement.
1.9 ADMISSION OF ADDITIONAL MEMBERS. Except as otherwise expressly
provided in the Agreement, no additional members may be admitted to the Company
through issuance by the company of a new interest in the Company without the prior
unanimous written consent of the Members.
ARTICLE 2
Capital Contributions
Related Templates
Subcontractor contract
6 pages
Operating agreement template
10 pages
Aircraft purchase offer
1 page
Subcontractor agreement
2 pages
Short form standard subcontract
4 pages
Offer to purchase real estate
4 pages
Offer to purchase
5 pages
Agreement of limited partnership
4 pages
Team operating agreement
2 pages