Free Business Operating Agreement Template
Business Operating Agreement
1. Introduction
This Business Operating Agreement ("Agreement") is entered into as of the January 1, 2060 by and between the members ("Members") of [YOUR COMPANY NAME], a limited liability company located at [YOUR COMPANY ADDRESS] ("Company"). The purpose of this Agreement is to govern the management, operations, and rights of the Members in accordance with the terms and conditions set forth herein.
2. Definitions
For the purposes of this Agreement, the following terms shall have the meanings specified:
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"Company" means [YOUR COMPANY NAME], the limited liability company established under this Agreement.
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"Member" means any individual or entity holding an interest in the Company pursuant to this Agreement.
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"Manager" means any person appointed to manage the operations of the Company, if applicable.
3. Company Information
3.1 Formation
The Company was formed as a limited liability company under the laws of the State of Texas on October 10, 2050.
3.2 Principal Office
The principal office of the Company shall be located at [YOUR COMPANY ADDRESS], or such other place as may be designated by the Members from time to time.
4. Membership
4.1 Contribution and Ownership
Each Member’s initial capital contribution and membership interest shall be as follows:
|
Member Name |
Capital Contribution |
Ownership Percentage |
|---|---|---|
|
[YOUR NAME] |
$10,000 |
50% |
|
Marcelo Green |
$10,000 |
50% |
4.2 Admission of New Members
New members may be admitted with the unanimous consent of all existing Members, provided that such new Members execute an addendum to this Agreement agreeing to be bound by its terms.
5. Management
5.1 Management Structure
The Company shall be managed by [YOUR NAME]. Each Manager shall have the full authority to manage and control the business and affairs of the Company.
5.2 Meetings
Regular meetings of the Members shall be held at least annually at a location and time agreed upon by the Members. Special meetings may be called upon the request of any Member.
6. Financial Matters
6.1 Fiscal Year
The fiscal year of the Company shall end on December 31.
6.2 Banking
The funds of the Company shall be maintained in an account at a financial institution approved by the Members.
7. Dissolution
The Company may be dissolved upon the occurrence of any of the following events:
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Consent of Members holding a majority of the ownership interest in the Company;
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Entry of a judicial decree of dissolution; or
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As otherwise required by law.
8. Miscellaneous
8.1 Amendments
This Agreement may be amended only by written agreement executed by all Members.
8.2 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Texas.
9. Signatures
Each of the undersigned agrees to and executes this Operating Agreement as of the date first above written.
[YOUR NAME]
Marcelo Green
