Free Texas Corporation Operating Agreement Template
Texas Corporation Operating Agreement
1. Introduction
This Operating Agreement ("Agreement") is entered into effective as of the 15th day of May, 2056, by and among the undersigned parties. This Agreement establishes the protocols for conducting the business and regulating the affairs of [YOUR COMPANY NAME], a Texas corporation, in accordance with the Texas Business Organizations Code.
2. Definitions
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Corporation: A Texas corporation governed by this Agreement as [YOUR COMPANY NAME].
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Board of Directors: The governing body of the Corporation.
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Shareholder: An individual or entity that owns shares in the Corporation.
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Officer: An individual appointed by the Board to manage day-to-day operations.
3. Purpose
The purpose of this Corporation is to engage in any lawful business for which a corporation may be organized under the laws of the State of Texas, including but not limited to manufacturing and distributing innovative educational technology solutions under the brand [YOUR COMPANY NAME].
4. Shares and Shareholders
4.1 Issuance of Shares
The Corporation is authorized to issue 1,000,000 shares as specified in the Corporation's articles of incorporation. The rights and preferences of these shares shall be determined by the Board of Directors.
4.2 Shareholder Rights and Obligations
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Right to vote on significant corporate matters.
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Obligation to comply with the Corporation's bylaws.
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Entitlement to dividends as declared by the Board.
5. Management
5.1 Board of Directors
The Board of Directors shall be responsible for making major corporate decisions and overseeing the overall management of the Corporation. The Board shall consist of 7 directors, elected by the shareholders during the annual meeting.
5.2 Officers
The Board shall appoint Officers, including but not limited to, a President, a Secretary, and a Treasurer. Each Officer shall serve at the discretion of the Board and perform duties as prescribed in the Corporation's bylaws.
6. Meetings
6.1 Shareholder Meetings
Annual meetings of the shareholders shall be held on the 1st of February at the Corporation's principal office or any other location designated by the Board.
6.2 Board Meetings
Regular meetings of the Board shall be held quarterly at the Corporation's principal office. Special meetings may be called by the President or a majority of the directors with due notice.
7. Amendments
This Agreement may be amended only by a written agreement signed by shareholders owning at least a majority of the Corporation's outstanding shares, unless a greater majority is required by the articles of incorporation or bylaws.
8. Miscellaneous Provisions
8.1 Governing Law
This Agreement shall be governed by and construed in accordance with the laws of the State of Texas.
8.2 Severability
If any provision of this Agreement is found to be unenforceable, the remaining provisions shall continue in full force and effect.
8.3 Entire Agreement
This Agreement constitutes the entire agreement among the parties and supersedes all prior discussions, agreements, or understandings of every kind and nature between them.
9. Signatures
Signed this 15th day of May, 2056:
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[YOUR NAME]