Wa Llc Operating Agreement Example

When forming a Limited Liability Company (LLC) in the State of Washington, a key document that is needed is the operating agreement. This document outlines the ownership, management, and operating procedures of the LLC. It is important to draft an operating agreement that clearly lays out the responsibilities and rights of each member of the LLC to ensure a smooth running operation.

To help guide you in creating your Washington LLC operating agreement, here is an example of what one might look like.

Article 1: Name and Purpose

The name of the LLC is [company name], and the purpose of the LLC is to [insert purpose statement].

Article 2: Members

The members of the LLC are as follows:

[Member Name and Address] – [Percentage of Ownership]

[Member Name and Address] – [Percentage of Ownership]

Article 3: Capital Contributions

Each member has contributed capital to the LLC as follows:

[Member Name] – [Amount]

[Member Name] – [Amount]

Article 4: Management

The management of the LLC will be conducted by [member/members] appointed by the members. All major decisions related to the business will require the consent of [percentage of members required for consent].

Article 5: Meetings

Meetings will be held [frequency of meetings] and will require [percentage of members required for quorum] to be present.

Article 6: Distributions and Allocations

The LLC will distribute profits and losses based on the percentage of ownership of each member. Distributions will be made on [frequency of distributions] and any remaining profits will be reinvested back into the LLC.

Article 7: Dissolution

The LLC can be dissolved by [percentage of members required for consent] or upon the occurrence of an event specified in the operating agreement.

Article 8: Amendments

The operating agreement can be amended by [percentage of members required for consent].

This is just an example of what a Washington LLC operating agreement can look like. It’s important to note that this agreement should be tailored to suit the specific needs and requirements of your LLC. If you are unsure about what should be included in your operating agreement, it is best to consult with a lawyer or other professional experienced in business formation and operations.

In summary, a well-drafted operating agreement is a crucial document that helps establish the structure and operations of your Washington LLC. With this operating agreement example as a guide, you can create an agreement that clearly outlines the roles and responsibilities of each member, ensures a smooth running operation, and protects your business interests.