I am currently creating LLC Resolution/LLC Operating Agreement in order for me to open a bank account. The following is my first draft. Please review and give me suggestions and feedback.
Thank you.
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LIMITED LIABILITY COMPANY OPERATING AGREEMENT [- Align center]
FOR [- Align center]
[Name of the company] [- Align center]
A Single-Member Limited Liability Company [- Align center]
1. This operating agreement is made by [Name of the company], a Delaware limited liability company, the Company, and [My name], the Member.
2. The Company has been formed under the Delaware statute authorizing the formation of limited liability companies. The purpose of the Company is stated in the Certificate of Formation.
3. The Company will have one or more offices at places the Member designates. The initial registered office of the Company is located at [My address] and The Company Corporation® is the resident agent.
4. The Member has the right to manage the Company's business. The Member may delegate to another person the authority to perform specified acts on behalf of the Company.
5. In exchange for the Member's interest in the Company, the Member will contribute to the Company:
$100.00
6. For federal tax purposes, the Company will be taxed as a sole proprietorship, with profits and losses passing through to the Member.
7. The Member will determine the financial institution that will hold Company funds and will determine the authorized signatures on Company accounts.
8. The Company may admit one or more additional members upon such items as are determined by the Company and the Member. If new members are admitted, the articles of organization and the operating agreement will be appropriately amended.
9. The Member will determine when and how cash and other assets of the Company will be distributed.
Dated: [Date]
Name of Business: [Name of the company]
a Delaware limited liability company
By: [My name]
Printed Name: [My printed name], Member
Address: [My address]
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