This Company Agreement is for a Limited Liability Company with only one Member. This form may be perfect for an LLC started by one person. 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.
A Sugar Land Texas Single Member Limited Liability Company (LLC) Company Agreement is a legal document that outlines the operations, management, and ownership structure of a single-member LLC in Sugar Land, Texas. This agreement serves to establish rights, responsibilities, and obligations of the company and its owner. The agreement typically includes various sections that detail the key aspects of the LLC, including: 1. Formation and Articles: This section provides information about the LLC's formation, its name, registered address, and the purpose for which it was established. 2. Member Information: Here, all the pertinent information about the single member, such as their name, address, and contact details, is specified. 3. Capital Contributions: This section outlines the initial capital contribution made by the member to the LLC and any future contributions they are obligated to make. 4. Profit and Loss Allocation: The agreement defines how the profits and losses of the LLC will be allocated among the single member. The specific allocation percentages or formulas for distribution may be mentioned here. 5. Management: In this section, the agreement determines whether the single member will handle the management of the company or appoint a manager to handle day-to-day operations. If a manager is appointed, their duties and responsibilities may be outlined. 6. Decision-Making: The agreement specifies how major decisions, such as changes to the LLC structure, admission of new members, or dissolution of the company, will be made. This ensures that the single member has the ultimate decision-making authority. 7. Transfer of Ownership: This section outlines the terms and conditions under which the single member can transfer their ownership interest in the LLC. It may require the consent of other members or impose restrictions on transfers. 8. Dissolution and Termination: The agreement defines the circumstances under which the LLC can be dissolved or terminated. It may include provisions for winding up the affairs of the company and distributing remaining assets to the single member. Different types or variations of Sugar Land Texas Single Member Limited Liability Company LLC Company Agreements can include specific clauses and provisions tailored to the needs of the single member or the nature of the business. Examples of specialized agreements may include: 1. Professional Services Agreement: If the single-member LLC provides professional services, such as legal, accounting, or consulting services, a specialized agreement might be necessary to address regulations and requirements specific to those industries. 2. Real Estate LLC Agreement: For a single-member LLC engaged in real estate investment or property management, a specialized agreement may include provisions on property acquisition, leasing, and management. 3. Operating Agreement for Multi-Member LLC: If the single-member intends to admit additional members to the LLC in the future, an operating agreement designed for multi-member LCS may be used. This agreement would outline the rights, responsibilities, and capital contributions of each member. It is important to consult with a legal professional in Sugar Land, Texas to draft a comprehensive and legally sound Single Member Limited Liability Company LLC Company Agreement that aligns with the specific needs and objectives of the single member and their business.
