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Montana Multi-Member LLC Operating Agreement Form

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The Montana multi-member LLC operating agreement is a legal document that would be used by entities that have more than one contributing, managing member so that they may create an agreement that, in turn, shall set forth the various procedures and company policies that will work well among the members and create a continuously growing business that will thrive. This state does not require the document in order to operate a business within the state. If the members choose not to complete and file the document with the state, there will be no separation between the member’s various personal assets and financials from business liabilities and debts.

By implementation of the document, the members are protected, in the event, at any point, the find they are facing litigation, bankruptcy or failure in the business. The members must review the document before completion to be certain that all members are in complete understanding of the document. If they find that they don’t understand the document, they may wish to employ the services of a knowledgeable attorney for clarification.

How to Write

Step 1 – Download the form and enter the company name in the first line at the top of the document

Step 2 – The Agreement –

  • Provide date that the document shall become effective – mm/dd/yyyy
  • Submit the members names

Step 3 – Company – Members must review the following titles and provide required information as requested

Formation –

  • Submit the date of commencement in mm/dd/yyyy format
  • Submit the name of the company
  • Enter the name that shall be used while conducting the principal business

Name –

  • Enter the name that will be used to conduct the company’s business
  • Purpose – Read the statement

Office –

  • Submit the physical address to be maintained whereas the perform the principal of the business

Registered Agent –

  • Enter the full name of the agent who had been initially registered
  • Submit the registered address of the office where the business shall be maintained

Term –

  • Enter the date of commencement of the business –(mm/dd/yyyy)

Read the last two titles in this section:

  • Names and Addresses of Members
  • Admission of Additional Members

Step 4 – Titled Sections and Subsections – The members must review the sections and subsections as follows:

  • Capitol Contributions (subsections 2.1 through 2.3)
  • Allocations of Profits and Losses;Distributions (subsections 3.1 through 3.3)
  • Indemnification
  • Powers and Duties of Managers, Section 5.1 (subsections 5.1.1 through 5.3)
  • Salaries, Reimbursement and Payment of Expenses (subsections 6.1 through 6.3)
  • Books of Account, Accounting Reports, Tax Returns, Fiscal Year, Banking (7.1 through 7.4)
  • Transfer of Membership Interest – 8.1 and 8.2 (subsections 8.2.1 through 8.2.5) – and 8.4 (subsection 8.4.1)  – 8.5 (subsections 8.5.1 through 8.5.5)
  • Dissolution – Review 9.1  (subsections 9.1.1 through 9.1.4), also 9.2 (and subsections 9.2.1 through 9.2.3

Step 5 – General Provisions – All members must review the information provided under the following titles:

  • Amendments
  • Governing Law
  • Entire Agreement; Modification
  • Attorney Fees
  • Further Effect
  • Severability
  • Captions
  • Notices

Step 6 – Additional Documents, Member’s Signatures and Acknowledgement – All members, must only submit signatures to the remaining documentation, in the presence of a Notary Public so that they may be effective –

  • Members must enter printed or typed names
  • Members will enter their signatures

Listing of Members – Schedule 1 –

  • Provide the company name at the beginning of the page
  • Submit a date that the list will be effective dd/m/yy format
  • Apply the members names
  • Enter the member’s addresses
  • Members must print or type their names
  • Provide the members signatures

Listing of Capital Contributions -Schedule 2 –

  • Submit the company name at the beginning of the page
  • Submit members respective names
  • Submit the member’s contribution ($100.00 minimum required. No further obligation to provide future contributions)
  • Provide the members percentages of interest
  • Submit the date of the member’s signatures – (dd/m/yy)
  • Print or type members names
  • Enter the member’s signatures

Listing of Valuation of Members Interest – Schedule 3 –

  • Submit the company name at the top of the document
  • Provide member’s names
  • Provide the amount of the member’s Valuation Endorsement
  • Submit the date of the member’s signatures in dd/m/yy format
  • Provide the date of member’s signatures
  • Members must enter their signatures before a notary public

Step 7 – Notarization –

  • Once complete, the notary shall complete the remainder of the document with their information. The notary shall then sign the document and affix the official seal

Each signatory, must receive a copy of the document for their personal record keeping purposes