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Alaska Multi-Member LLC Operating Agreement Form

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The Alaska multi-member LLC operating agreement is a legal document that is completed by a business that has more than one member. The document may be completed with or without legal counsel. However, if there are questions regarding the any of the information contained within  the agreement, the members may wish to contact an attorney to meet with the members for the purpose of clarification.

This document will offer each member, legal protections in the unforeseen event that they are needed. The document will establish a solid, written agreement, by which, once agreed upon by the members, all members must adhere to until the business is no longer in existence. All signatures must only be entered in the presence of a Notary Public so that the document may be considered effective.

How to Write

Step 1 – Download the Document – Establish the company members agreement by placing the name of the company at the top of the page

Step 2 – Date of Effectiveness and Members Names

  • Enter the date in which the document shall become effective among the members in mm/dd/yyyy format
  • Submit all member’s full names
  • If more members shall be listed in this agreement, add the full names onto a separate sheet and attach to this document

Step 3 – Section 1 – The Limited Liability Company- Submit the following:

  • Formation – Enter the date of effectiveness in mm/dd/yyyy format
  • Enter the name of the company
  • AND
  • Name – Enter the name under which the company shall be operated
  • Purpose – Review
  • Office – Enter the complete address whereas the company shall maintain the principal business
  • Registered Agent -Submit the fill name of the initial registered agent – Enter the address of the initially registered agent
  • Names and Addresses of Members – Attach Schedule 1 to the document
  • Term -Enter the date of the commencement of the company in mm/dd/yyyy format
  • Admission of Additional Members – Review the rule to this subsection

Step 4 – Section 2 – Capitol Contributions – All members must carefully review the following titled sections:

  • Initial Contributions
  • Additional Contributions
  • No Interest on Capital Contributions

Step 5 – Section 3 – Allocation of Profits and Losses; Distributions – All members must read and be clear with regard to all titled sections and regulations contained within these sections:

  • Profits/Losses
  • Distributions
  • No Right to Demand Return of Capital

Step 6 – All of the members of the organization, must carefully read, review and understand the following sections and subsections as follows:

  • Section 4 – Indemnification
  • Section 5 – Powers and Duties of Managers (Subsections 5.1.1 through 5.3)
  • Section 6 – Salaries, Reimbursement and Payment of Expenses (Subsections 6.1 through 6.3)
  • Section 7 – Books of Account, Accounting Reports, Tax Returns, Fiscal Year, Banking (Subsections 7.1 through 7.4)
  • Section 8 – Transfer of Membership Interest – (Subsections 8.2.1 through 8.2.5)
  • 8.3 Substituted Parties – (Subsection 8.3.1 and 8.3.2)
  • Death, Incompetency or Bankruptcy of Member (8.4.1)
  • Death Buy Out (Subsection 8.5.1 through 8.5.4 -1 and 2 and 8.5 .5 and 8.5.6
  • Section 9 – Dissolution and Winding Up of the Company – 9.2 Winding Up (Subsections 9.2.1 through 9.2.3)
  • Section 10 – General Provisions
  • Amendments
  • Governing Law
  • Entire Agreement; Modification
  • Attorney’s Fees
  • Further Effect
  • Severability
  • Captions
  • Notices

Step 7 – Members –

  • Print or Type the member’s names
  • Submit each member’s signature

Step 8 – Listing of Members- Schedule 1 –

  • Enter the name of the company
  • Submit the date in which the listing of members is executed in dd/mm/yy
  • Print or type the name of the member
  • Provide each member’s complete physical address

Step 9 – Listing of Capital Contributions – Schedule 2 –

  • Enter the name of the company
  • Print or type the name of each member
  • Each member’s contribution (not less than $100.00)
  • Submit each member’s percentage of ownership
  • Enter the date in which all member are agreeing to the capital terms in dd/m/yy format
  • Print or type the name of each member
  • Each member must provide their signature

Step 10 – Listing of Valuation of Members Interest – Schedule 3

  • Submit the name of the company
  • Print or type the name of each member
  • Submit each member’s Valuation Endorsement
  • Provide the date of this portion of the agreement in dd/m/yy format
  • Each member must type or print their name
  • All members must enter their signatures

Step 11 – Notarization –

  • Once all signatures have been witnessed and recorded by the notary public, the notary shall complete the notarization section of the form
  • The notary shall acknowledge all signatures to the document by application of notary’s signature and official seal or stamp

Step 12 – When the document is complete, all members must be provided a copy of the document to maintain in a safe location.