Company: · State:
Member/Manager:
1. Formation. This agreement confirms the LLC is organized under the laws of the state listed above.
2. Management. The LLC is member-managed unless otherwise stated. The member listed above has authority to act.
3. Capital & Profits. Capital contributions, profits, and distributions are recorded and allocated to the member(s).
4. Banking & Records. Business banking is maintained separately. Records are kept and available upon request.
5. Liability. Members are generally not personally liable for LLC obligations except as required by law.
Prepared using LAAP™ systems. This is a starter summary for administrative use, not legal advice.