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.
Austin Texas Limited Liability Company LLC Company Agreement
State:
Texas
City:
Austin
Control #:
TX-00LLC-1
Format:
Word;
Rich Text
Instant download
Description
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FAQ
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.
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.
The basic total cost of forming an LLC in Texas is $300. The basic total cost of registering a foreign LLC in Texas is $750. The optional costs of a certified copy of the filing document, a certificate of status, and hiring an outside registered agent could raise this total by between $85 and $535.
Although a business lawyer is not required, setting up an LLC without one may result in complex legal issues that may end up costing your LLC a significant expense. There are many reasons why it's beneficial to hire an experienced small business attorney in forming your LLC in Texas.
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.
How to Start an LLC in Texas Name Your Texas LLC.Choose Your Registered Agent.Prepare and File Certificate of Formation.Receive a Certificate From the State.Create an Operating Agreement.Get an Employer Identification Number.File a LLC Franchise Tax and Public Information Report.
Under Texas law, a business cannot legally be represented by a non-attorney. It does not matter if you own 51 percent of the company and are fully capable of making major decisions on behalf of your company, or if you are the president and sole member of the company.
The LLC operating agreement, also known as an LLC agreement, establishes the rules and structure for the LLC and can help address any issues that arise during business operations. Most states have default provisions that address many of these difficulties, but the operating agreement can override these presumptions.
No. Texas state law does not require LLCs to implement an operating agreement.
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.