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The state of Georgia does not require LLCs to have Operating Agreements. However, you will need one if you want to make it easy for you and your co-members to do business together.
How to Transfer Ownership of a Georgia LLC Consult Your Georgia LLC Operating Agreement. When transferring LLC ownership, it's crucial that you follow the policies in your operating agreement. ... Vote to Transfer Membership Interest. ... Amend Your Operating Agreement. ... Change the IRS Responsible Party.
To update your Articles of Organization for a Georgia LLC, you must file Articles of Amendment with the Georgia Secretary of State, Corporations Division. You'll also need to pay a minimum of $20 for a filing fee.
LLC. If you want to change the name of your Georgia LLC, you will have to submit a completed Articles of Amendment to Articles of Organization. File this with the Corporations Division of the Secretary of State by mail or in person. You can also draft your amendment if you want.
To add a member to your LLC, you will need to amend your Georgia LLC operating agreement. Your operating agreement contains your members' names and addresses, so when you add a new member, you'll need to update the operating agreement with the new member's information.
An LLC operating agreement should contain provisions to cover: Basic information about the LLC. ... A profit and loss allocation plan. ... The LLC's purpose. The management structure. ... Ownership percentages of each member. ... Voting rights and procedures. ... Meeting frequency. Procedures for bringing in new members.
How to Transfer Ownership of a Georgia LLC Consult Your Georgia LLC Operating Agreement. When transferring LLC ownership, it's crucial that you follow the policies in your operating agreement. ... Vote to Transfer Membership Interest. ... Amend Your Operating Agreement. ... Change the IRS Responsible Party.
To remove a member from your LLC, a withdrawal notice, a unanimous vote, or a procedure depicted in the articles of organization may entail. The member in question of removal may need to get compensated for his share of membership interests.