Llc Operating Agreement

465 Words2 Pages
Maine LLC Operating Agreement Maine LLC Operating Agreement defines the principles of formation of a Limited Liability Company in the state Maine. Operational executables are in line with the Maine Limited Liability Company Act, 31 M.R.S.A. §601 et seq. requirements. Obligations and rights explained in the Operating Agreements are guidelines to perform and the document has 12 Articles and 3 Schedules. Completing Schedule A, B, and C meticulously is very necessary. Read 12 Article chapters of the Operating Agreement to understand the nature of governance and functional control of the Limited Liability Company run by Managers. File duly completed Operative Agreement with Secretary of State of the State of Maine for its execution. Select between the choices in…show more content…
Describe the nature of business in short followed by typing the location of the LLC in the Maine State. List all initial members of the Limited Liability Company in Schedule A and the Managers and/or Officers as and when the changes occur. Article 8 and 10 has directives about appointing new members. Article 6 Management of company needs input of ceiling value of indebtedness in words and figure. The amount should be in US dollars only. Mention the amount in words and figure for defining the ceiling limit for maximum permissible single transaction capital expenditure. Write the ceiling amount for settling claims and/or amount in controversy in the subsequent paragraph. Type the amount in words followed by figure. Type the name of the member responsible to handle the tax matters in Article 12 subsection 5. Type the name of the member again to authorize the manager to appoint a successor if the pre-appointed member is inapt to serve. Page 18 of Maine LLC Operating Agreement has space reserved for signatures and names of members, name of the Limited Liability Company, along with signature and name of the
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