This Company Agreement is used in the formation of any Limited Liability Company. You make changes to fit your needs and add description of your business. Approximately 10 pages. It allows for eventual adding of new Members to LLC.
Arlington Texas Limited Liability Company LLC Company Agreement
State:
Texas
City:
Arlington
Control #:
TX-00LLC-1
Format:
Word;
Rich Text
Instant download
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How to fill out Arlington Texas Limited Liability Company LLC Company Agreement?
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FAQ
The state of Texas does not require an operating agreement for a business to engage in trade; however, it will be unwise to operate a business without an operating agreement as it is designed to protect your personal assets in the event that the company incurs liabilities.
Your operating agreement can be written by your members, in which case it is free. On the other hand, you may also have an operating agreement written by a business lawyer, who will no doubt charge for this service.
Texas does not require LLCs to have operating agreements, but it is highly recommended. An operating agreement will help protect your limited liability status, prevent financial and managerial misunderstandings, and ensure that you decide on the rules governing your business instead of state law by default.
Although this document is not required for companies doing business in Texas, without an operating agreement in place, the members could be held financially liable in the event of a lawsuit. Filing an operating agreement ensures the LLC owners' personal assets will be protected from business liability.
Most states do not require LLCs to have this document, so many LLCs choose not to draft one. While it may not be a requirement to have an operating agreement, it's actually in the best interest of an LLC to draft one. And by drafting it, I'm referring to creating a written operating agreement.
Check With Your Company Agent The registered business agent is often a commercial service that exists explicitly to serve this function. The agent may also be an individual officer in your LLC. Request a copy of the operating agreement from this individual or entity.
The Texas Limited Liability Company Law uses the term company agreement to refer to the document that other states call an operating agreement. The terms company agreement and operating agreement are synonyms.
No. Texas state law does not require LLCs to implement an operating agreement.
Your Texas LLC Operating Agreement doesn't need to be notarized. Once you (and the other LLC Members, if applicable) sign the Operating Agreement, then it becomes a legally binding document for all of you.
Texas does not require an SMLLC to have an operating agreement. However, even though an SMLLC has just one member, an operating agreement is highly recommended. An SMLLC operating agreement does not need to be filed with the state.
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