Llc Operating Agreement Virginia
All fee payments should be made payable to the state corporation commission.
Llc operating agreement virginia. The number of the form relates to the applicable statute in title 131 of the code of virginia. This may be a verbal or written agreement. The llc operating agreement has information about the llc itself including the name description of services signing details for the llc and office address. An llc operating agreement is a legal document that outlines the ownership and member duties of your limited liability company.
What is an operating agreement. The purchased version of this form includes in addition to the operating agreement a packet of professionally drafted resolutions notices and minutes templates that are essential to the initial organization of an llc and to its ongoing operation including. Incorporating as an llc is a popular choice among business owners. If you are the sole owner of an llc create a single member llc.
This agreement allows you to set out the financial and working relations among business owners members and between members and managers. Learn more about forming a limited liability company today. An operating agreement is a legal document outlining the ownership and operating procedures of an llc. Create your free llc operating agreement in minutes.
Choose a name for your llc under virginia law an llc name must contain the words limited liability company or limited company or the. Owners of an llc have the same limited liability offered through the corporate structure meaning that their personal assets will be protected if the company is sued. In virginia llcs are required to have an operating agreement. Here are the steps you need to take to form an llc in virginia.
Appointment of accountants appointment of officers approval of operating agreement designation or substitution of agent for. For more information on how to form an llc in any state see nolos article how to form an llc.
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