California Corporation Operating Agreement

I. Formation

1. Name of Corporation

The name of the corporation shall be [YOUR COMPANY NAME], hereinafter referred to as the "Corporation."

2. Principal Office

The principal office of the Corporation shall be located at Los Angeles, CA 90012, or at such other place as may be designated by the Board of Directors.

3. Formation Date

The Corporation was formed on January 15, 2063 under the laws of the State of California.

4. Duration

The Corporation shall have perpetual existence unless dissolved in accordance with this Agreement or the laws of the State of California.

II. Purpose

The purpose of the Corporation is to engage in any lawful business for which a corporation may be organized under the laws of the State of California. The Corporation may also engage in any other activities approved by the Board of Directors.

III. Shareholders

1. Initial Shareholders

The initial shareholders of the Corporation shall be as follows:

[YOUR NAME]: 500 Shares
Dexter Dicken: 500 Shares

2. Shareholder Meetings

Regular and special meetings of the shareholders shall be held in accordance with the bylaws of the Corporation.

3. Voting Rights

Each shareholder shall have voting rights proportional to the number of shares they own, as stated in the Corporation’s records.

IV. Board of Directors

1. Composition

The Board of Directors shall consist of 2 directors. The names of the initial directors are as follows:

[YOUR NAME]
Dexter Dicken

2. Powers and Duties

The Board of Directors shall have the power to manage the business and affairs of the Corporation, including but not limited to:

Appointing officers
Approving major corporate decisions
Adopting, amending, or repealing bylaws

3. Meetings

The Board of Directors shall hold regular meetings as provided in the Corporation’s bylaws. Special meetings may be called as necessary.

V. Officers

1. Appointment

The officers of the Corporation shall be appointed by the Board of Directors and shall include:

President: [YOUR NAME]
Secretary: Dexter Dicken
Treasurer: Garry Buckley

2. Duties

Each officer shall perform the duties prescribed by the Board of Directors or as outlined in the Corporation’s bylaws.

VI. Capital Contributions

1. Initial Contributions

The initial capital contributions of the shareholders shall be as follows:

[YOUR NAME]: $50,000
Dexter Dicken: $50,000

2. Additional Contributions

Additional contributions may be required or accepted as determined by the Board of Directors.

VII. Distribution of Profits and Losses

1. Allocation

The profits and losses of the Corporation shall be allocated among the shareholders in proportion to their respective ownership interests.

2. Distribution Schedule

Distributions shall be made at such times and in such amounts as determined by the Board of Directors, consistent with the Corporation’s bylaws and applicable laws.

VIII. Indemnification

The Corporation shall indemnify its directors, officers, employees, and agents to the fullest extent permitted by the laws of the State of California.

IX. Amendment

This Operating Agreement may be amended or modified only by a written agreement signed by shareholders holding a majority of the shares of the Corporation.

X. Dissolution

1. Events Leading to Dissolution

The Corporation may be dissolved upon the occurrence of any of the following events:

A decision by the Board of Directors and approval by shareholders holding a majority of shares.
A court order.
Any other event requiring dissolution under California law.