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INTELLIGENT QUESTIONNAIRE FOR

OPERATING AGREEMENT - $49.95

PRINT YOUR SIGNATURE READY DOCUMENT AFTER ANSWERING THE QUESTIONS BELOW!  

NAME OF LLC 
 
Enter the name of the LLC. DO NOT INCLUDE THE ENDING since you will enter that separately below.
     
Name of LLC:
FAQ
What Name Can I Choose For My LLC?
 
Ending: APPLIES TO ALL NAMES
     
 
       
INITIAL AGENT FOR SERVICE OF PROCESS
 
Check here to let be the LLC's Agent for Service of Process ( $99.00 annual fee)
FAQ
What Is An Agent For Service Of Process?
 
 
Name:  
Street address:
City:
State:
Zip:
 
 
LLC'S CALIFORNIA ADDRESS 
 
Address:  
City:  
State:  
Zip:  
 
MEMBERS 
 
How many members will the LLC have?
FAQ
What Is A Member?
 
 
Name Married Address City State Zip
1.
2.
3.
4.
 
Please indicate whether any of the LLC Members below is an entity (non-individual)?

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
CONTRIBUTIONS AND PERCENT INTEREST IN LLC 
 
What will each Member identified above contribute as their initial capital to the company?

FAQ
What Is A Contribution Of Initial Capital?
 
Fill in now
Fill in later by hand
  Name Contribution in Dollars Description Percent Interest in LLC
1.
 
$
 
2.
 
$
 
3.
 
$
 
4.
 
$
 
 
 
VOTE REQUIRED TO ALLOW ADDITIONAL MEMBERS
     
What vote is required in order to allow additional members into the LLC at a later time?

 
Majority (more than 50% of the ownership interests), or
Unanimous (100%, i.e. all the Members must agree)
 
 
WITHDRAWAL OF MEMBERS
     
If a Member wants to withdraw (including retirement or resignation) from the LLC, how will that situation be handled?

FAQ
What Is An Economic Interest In An LLC?
 
The withdrawing member's interest in this company MUST be purchased by the company or the other members.

The withdrawing member's interest in this company MAY be purchased by the company or the other members (and if not purchased, then may be freely transferred).

The withdrawing member's interest in this company DOES NOT get purchased, and the withdrawn member only retains an economic interest in the Company.

Withdrawing is a breach of the agreement. The withdrawing member's interest in this company DOES NOT get purchased, and the withdrawn member only retains an economic interest in the Company AND any distributions owing to the withdrawn member may be offset by damages caused by the withdrawal.
 
 
MANAGEMENT OF COMPANY
 
Will the LLC be managed by its Members or by Managers?

 
One manager
FAQ
What Is The Difference Between Management By Members Or By Managers?
 
Two managers
Three managers
Four managers
ALL LLC MEMBERS  
 
Name of Managers (FirstName LastName)

1.
2.
3.
4.
 
In order for the Managers to take action without a meeting, the action must be taken by:

Majority of the managers, or
Unanimous consent (all managers)
Please select any of the following sentences you wish to include in the Operating Agreement. For any sentence you decide to include, you must fill in a $ amount.

  On the Company's behalf, a Member cannot
Lend money in an amount greater than $
Borrow money or undertake any obligation or liability in an amount greater than $
Make any single expenditure in an amount greater than $ , or make total expenditures in any one year in an amount greater than $ .
 
 
TAX MATTERS PARTNER 
 
Who shall serve as the Tax Matters Partner?
FAQ
What Is A Tax Matters Partner?
 
 
 
 
 
 
 
 
 
 
 
 
BUY-OUT OF MEMBERSHIP INTEREST
 
How will Membership Interests be valued in the event of a buy-out?
FAQ
What Is A Membership Interest And How Is It Valued?
 
  Appraisal Method

  Capitalization of Earnings
   -   By what factor will average net profits* be multiplied? 

* Net profits are based on rolling 24 month average, less debt plus cash.

  I'm note sure - leave blank and I will fill it in later after discussing the matter with an attorney or other professional advisor. However, if I do not provide an alternative within 60 days, the appraisal method will be used.
 
In the event of a buy-out not involving all cash, there will be a 20% down payment and a loan for the remainder. The loan is paid monthly. You must select an interest rate and the number of months allowed for repayment.
 
  What is the interest rate?  (1 - 100 %)  
  What is the term (in months)?  (1 - 360 months)  
 
 
 
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