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California LLC Operating Agreement

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California LLC Operating Agreement Powered By Docstoc
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                             This Limited Liability Company (LLC) Operating Agreement outlines the operating
                             procedures and policies of an LLC. An LLC is a flexible business entity that combines the
                             benefits of corporations and partnerships, and the operating agreement defines the
                             members' rights, powers and entitlements. The agreement contains information regarding
                             the members' capital contributions, the board of members, and the LLC's purpose. This
                             operating agreement contains many of the standard provisions commonly included in LLC
                             operating agreements, and it may be customized to fit the specific needs of the members
                             forming the LLC. This document should be used when forming an LLC located in
                             California.
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OPERATING AGREEMENT OF ___________________ LLC [Instruction: Insert the full
                        name of the LLC]

The undersigned Members of the ___________________ LLC [Instruction: Insert the name of
company] do hereby enter into this Operating Agreement effective the _____ [Month] _____
[Date], 20_____.

1. Office

   The      principal      office   of     the     Company       shall    be    located  at
   ________________________________ [Instruction: Insert the address of company]. The
   Company may have such other offices as the Members may designate or as the business of
   the Company may require. The registered office of the Company required by the
   [STATUTE] to be maintained in the State of California may be, but need not be, identical
   with the principal office, and may be changed from time to time by the Members.

2. Purpose

   This Limited Liability Company is organized solely to conduct any lawful business that is
   permitted under the California Code, [STATUTE] Nature of business permitted; powers.

3. Duration of the Company

   The Company shall commence upon the filing of its Articles of Organization with the
   Secretary of State and shall continue perpetually unless:

            (a) extended by the Members;

            (b) sooner dissolved by the Members, or

            (c) dissolved by a statutory event of dissolution.

4. Capital Contributions

   The Members agree for themselves and their successors, assigns and heirs, that their
   participation is considered a long-term investment, and that any return of capital prior to the
   termination and winding up of the Company is in the sole discretion of the Board of
   Members. The undersigned Members agree to share in all post formation profits and surplus
   of the Company pro-rata according to their share of ownership in the Company. The
   issuance of _______________ (______) shares [Instruction: Insert the amount of shares]
   of capital stock is authorized in the Articles of Organization of this Company, and
   _______________ (______) shares [Instruction: Insert the amount of shares] having a
   book value of ___________ dollars ($______) [Instruction: Insert the book value of each
   shares] per share have been issued to the undersigned as follows:




© Copyright 2011 Docstoc Inc. registered document proprietary, copy not               2
   _____       _______ Shares

   _____       _______ Shares

   _____       _______ Shares

   _____       _______ Shares

5. Additional Capital Contributions

   The Members may, but are not required to, contribute any additional capital deemed
   necessary by the Board for the operation of the Company, provided, however, that in the
   event that any Member deems it advisable to refuse or fails to contribute their proportionate
   share of any or all of the additional capital requested by the Board then other Members or
   any one of them may contribute the additional capital not paid in by such refusing Member,
   and shall receive therefore an increase in the proportionate share of the ownership or interest
   in the entire Company in direct proportion to the said additional capital contributed. Unless
   otherwise agreed, the right to make up additional capital contributions of a refusing Member
   shall be available in the same portion order as the right to share in d
				
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Description: This Limited Liability Company (LLC) Operating Agreement outlines the operating procedures and policies of an LLC. An LLC is a flexible business entity that combines the benefits of corporations and partnerships, and the operating agreement defines the members' rights, powers and entitlements. The agreement contains information regarding the members' capital contributions, the board of members, and the LLC's purpose. This operating agreement contains many of the standard provisions commonly included in LLC operating agreements, and it may be customized to fit the specific needs of the members forming the LLC. This document should be used when forming an LLC located in California.
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