What does an operating agreement say?

A limited liability company operating agreement is a legal contract between LLC business members that clearly defines the organization's structural, operational, managerial and financial details. The agreement includes clear guidelines and protocols for each member to follow.

What does an operating agreement need to include?

Most LLC operating agreements are short and sweet, and they typically address the following five points: Percent of Ownership/How You'll Distribute Profits.Your LLC's Management Structure/Members' Roles And Responsibilities.How You'll Make Decisions.What Happens If A Member Wants Out.

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Joint Operating Agreement 89-03 Revised

Bronx New York Joint Operating Agreement 89-03 Revised

Name: Bronx New York Joint Operating Agreement 89-03 Revised
Brand: US Legal Forms
Rating: 4.88 (211 reviews)

Category:

Oil Gas and Minerals - Agreements

State:

Multi-State

County:

Bronx

Control #:

US-OG-759

Format:

Instant download

Description

This operating agreement is used when the Parties to this Agreement are owners of Oil and Gas Leases and/or Oil and Gas Interests in the lands identified in Exhibit A to the Agreement. The Parties have reached an agreement to explore and develop the Leases and/or Oil and Gas Interests for the production of Oil and Gas to the extent and as provided for in this Agreement.

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FAQ

An operating agreement is a key business document that shows your business operates like a legit company. Without the operating agreement, your state might not acknowledge you as an LLC, and which means someone could sue to go after you without there being any shield to protect your personal assets.

A limited liability company operating agreement is a legal contract between LLC business members that clearly defines the organization's structural, operational, managerial and financial details. The agreement includes clear guidelines and protocols for each member to follow.

An operating agreement is a legally binding document that limited liability companies (LLCs) use to outline how the company is managed, who has ownership, and how it is structured. If a company is a multi-member LLC , the operating agreement becomes a binding contract between the different members.

The Joint Operating Agreements (JOA) is a contractual agreement between two or more parties with shared interests in a tract or leasehold that outlines coordinated exploration, development and production activities in a designated contract area.

What should an LLC operating agreement include? The legal name of the company. Any fictitious business names or DBAs. The company address. Name and address of your registered agent (who accepts legal service of process on your behalf.) Every LLC must have a registered agent under state law.

Most LLC operating agreements are short and sweet, and they typically address the following five points: Percent of Ownership/How You'll Distribute Profits.Your LLC's Management Structure/Members' Roles And Responsibilities.How You'll Make Decisions.What Happens If A Member Wants Out.

Joint operating companies (JOCs) are established pursuant to joint operating agreements (Affiliation Agreements), which typically bring together two or more health care systems (or individual hospitals) to create a jointly governed entity to manage and operate the affiliating providers.

An Operating Agreement is a contract document which is considered as a key document used by a limited liability company (LLC) as it provides an outline of the financial and functional decisions of the business which includes its regulations, provisions and rules.

The purpose of a joint operating agreement (JOA) is to protect a business from failure, yet prevent monopolization within an industry by allowing each party to retain some form of separate operation. JOAs are used in the newspaper, health care, gas and oil, and other industries.

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Bronx New York Joint Operating Agreement 89-03 Revised

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Why do I need an operating agreement?

What does an operating agreement say?

What makes an operating agreement legally binding?

What is joint operating agreement?

What should a operating agreement include?

What does an operating agreement need to include?

What is a joint operating company?

Is an operating agreement a contract?

What are joint operating agreements and how are they supposed to help newspapers?

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