This operating agreement is used when the parties to the Agreement are owners of oil and gas leases and/or oil and gas interests in the land identified in Exhibit A to the agreement, and have reached an agreement to explore and develop these leases and/or oil and gas interests for the production of oil and gas to the extent and as provided for in this Agreement.
California Joint Operating Agreement 82 Revised
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Multi-State
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US-OG-757
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How to fill out Joint Operating Agreement 82 Revised?
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FAQ
In California, all that's required for a contract (which is what an operating agreement is) to be effective, other than for residential real estate contracts, is a signature.
A JOA is a way for co-venturers to apportion liability in ance with their agreed participating interest. Under a JOA, the parties: Appoint an operator to manage operations and dealings with the host state and other third parties on behalf of the consortium.
Domestic LLCs may be managed by one or more managers or one or more members. In addition to filing the applicable documents with the Secretary of State, an operating agreement among the members as to the affairs of the LLC and the conduct of its business is required.
Yes. California law requires LLCs to create an operating agreement during their initial registration process. The LLC does not have to file the operating agreement with the Secretary of State. Instead, the finished agreement is stored at the company's designated office where its records are kept.
The operating agreement should include the following: Basic information about the business, such as official name, location, statement of purpose, and registered agent. Tax treatment preference. Member information. Management structure. Operating procedures. Liability statement. Additional provisions.