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New Mexico Single Member LLC Operating Agreement

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New Mexico Single Member LLC Operating Agreement Powered By Docstoc
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                             This Limited Liability Company (LLC) Operating Agreement outlines the operating
                             procedures and policies of a single member LLC. An LLC is a flexible business entity that
                             combines the benefits of a corporation and a partnership, and the operating agreement
                             defines the member's rights, powers and entitlements. In a single member LLC, an
                             operating agreement is sometimes used to prove in court that the LLC structure is separate
                             from the individual member. 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 individual forming the LLC. This document should be used by
                             individuals located in New Mexico when forming a single member LLC.
             ®




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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 New Mexico 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 New Mexico 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:

    _____        _______ Shares

    _____        _______ Shares

© Copyright 2011 Docstoc Inc. registered document proprietary, copy not                2
    _____        _______ 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 distributions of the
    remaining Members.

6. Meetings - Board of Members

    The annual meeting of the Mem
				
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Description: This Limited Liability Company (LLC) Operating Agreement outlines the operating procedures and policies of a single member LLC. An LLC is a flexible business entity that combines the benefits of a corporation and a partnership, and the operating agreement defines the member's rights, powers and entitlements. In a single member LLC, an operating agreement is sometimes used to prove in court that the LLC structure is separate from the individual member. 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 individual forming the LLC. This document should be used by individuals located in New Mexico when forming a single member LLC.
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