Law Firm Operating Agreement
Law Firm Operating Agreement
This Operating Agreement (the "Agreement") is made effective as of [Month, Day, Year], by and between:
[Your Company Name], a law firm organized and existing under the laws of the State of [State], with its principal place of business located at [Your Company Address] ("the Firm"), and
[Partner 1 Name], a licensed attorney in good standing with the State Bar of [State], residing at [Partner 1 Address] ("Partner 1"), and
[Partner 2 Name], a licensed attorney in good standing with the State Bar of [State], residing at [Partner 2 Address] ("Partner 2").
WHEREAS, the parties desire to associate themselves together for the purpose of forming a law firm to engage in the practice of law;
NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:
1. Formation of the Firm
1.1 Formation. The Firm shall be organized as a professional limited liability company ("PLLC") under the laws of the State of [State].
1.2 Name. The name of the Firm shall be "[Your Company Name]" or any other name as the members may agree upon in writing.
1.3 Purpose. The purpose of the Firm shall be to engage in the practice of law and provide legal services in accordance with applicable law and ethical rules.
2. Management and Control
2.1 Management. The management and control of the Firm shall be vested in the members, who shall exercise such management and control collectively.
2.2 Decision-Making. Decisions of the Firm shall be made by a majority vote of the members, with each member having one vote.
2.3 Management Authority. Each member shall have the authority to bind the Firm in the ordinary course of business.
3. Capital Contributions
3.1 Initial Capital. Each member shall contribute initial capital to the Firm in an amount to be determined by the members.
3.2 Additional Contributions. Additional capital contributions may be required from time to time as determined by the members.
4. Allocation of Profits and Losses
4.1 Allocation. Profits and losses of the Firm shall be allocated among the members in accordance with their respective ownership interests.
4.2 Distributions. Distributions of profits shall be made to the members at such times and in such amounts as determined by the members.
5. Withdrawal and Dissociation
5.1 Withdrawal. A member may withdraw from the Firm upon giving written notice to the other members.
5.2 Dissociation. A member shall be deemed to have dissociated from the Firm upon death, disability, or other event as provided by law.
6. Dissolution and Winding Up
6.1 Dissolution. The Firm shall be dissolved upon the occurrence of any event as provided by law or by a vote of the members.
6.2 Winding Up. Upon dissolution, the affairs of the Firm shall be wound up in accordance with applicable law.
7. Miscellaneous
7.1 Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of [State].
7.2 Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, whether written or oral.
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.
[Your Company Name]
By:
[Your Name]
[Your Title]
Partner
By:
[Partner 1 Name]
Partner
By:
[Partner 2 Name]
