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Ohio Multi-Member LLC Operating Agreement Form

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The Ohio multi-member LLC operating agreement is a legal document that is designed for use, specifically by entities that have more than one member. The document will guide the members through the process of establishing various aspects of the company. Establishment of policies, procedures, member relations, daily activities, are just some of the items to be agreed upon and outlined by the members.

This document is not a requirement in this state, in order to conduct business within the state. The document, however, should be seriously considered to be a very important part of the business. Should the members decide against implementation of this document, would leave each member’s private assets vulnerable, as it is this document that provides a legal separation between the members and the business. The document must be in place in the event the business should experience any form of litigation or legal claims against the business.

How to Write

Step 1 – Once the document is downloaded, submit the company name in the first line, at the top of the form

Step 2 –  Agreement – Submit the following:

  • The effective date of the document in, mm/dd/yyyy format
  • Full names of all members

Step 3 – The Company – Provide the following:

Formation –

  • An agreement commencement date in mm/dd/yyyy format
  • A company name
  • The name that will be used when conducting the principal business

Name – Enter:

  • A business name that will be used to conduct the company’s business
  • Purpose – Review

Office –

  • Submit the address that is maintained as a location whereas the performance of the principal of the business shall take place

Registered Agent – Enter the following:

  • The initial registered agent’s full name
  • 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 following titles:

  • 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:

  • Capital 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), and 9.2 (subsections 9.2.1 through 9.2.3)

Step 5 – General Provisions – Review all information contained within the titles:

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

Step 6 – Additional Documents, Member’s Signatures and Notarization – So that the document may be effective, the members must provide signature before a notary public:

  • Members, enter printed or typed names
  • Members must enter their respective signatures

Listing of Members – Schedule 1 – Provide:

  • At the top of the page, enter the company name
  • The date that the list shall immediately, be effective dd/m/yy format
  • Names of all members
  • Member’s addresses
  • Print or type member’s names
  • The members signatures

Listing of Capital Contributions -Schedule 2 – Submit the following:

  • The company name at the beginning of the page
  • All members respective names
  • Each member’s contribution
  • Each members percentages of interest
  • Date the member’s signatures in, dd/m/yy format
  • Print or type members names
  • The member’s signatures

Listing of Valuation of Members Interest – Schedule 3 –Provide:

  • The company name at the top of the document
  • Member’s names
  • The amount of the member’s Valuation Endorsement
  • The date of the member’s signatures in dd/m/yy format
  • Date the member’s signatures
  • All Signatures must be submitted in the presence of a notary

Step 7 – Notarization –

  • Once complete, the notary shall complete the remaining portion of the document with the notary’s required information. The notary shall then sign the document and affix their official seal

All of the signing parties must receive a copy of the document for their record keeping

 montana-multi-member-llc-operating-agreement-template
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