Operating Agreement Llc Florida Sample

When starting a Limited Liability Company (LLC) in Florida, it is important to have an Operating Agreement in place. An Operating Agreement is a legal document that outlines how the LLC will be managed, how profits will be distributed, and how decisions will be made.

Before drafting an Operating Agreement, it is important to understand the specific laws and regulations regarding LLCs in Florida. The Florida Statutes Title XXXVI, Chapter 605 provides guidelines for LLCs in the state. It is also recommended to consult with a lawyer to ensure that the agreement meets all legal requirements.

Here is a sample Operating Agreement for an LLC in Florida:

Article I: Formation and Purpose

This operating agreement (the “Agreement”) is entered into by the members listed below to govern the operation of the LLC.

Article II: Members

The initial members of the LLC are:

– [Member Name], [Member Address]

– [Member Name], [Member Address]

Article III: Management

The LLC will be managed by [Manager/Member] [Name], who will have complete authority over all business decisions. If [Manager/Member] [Name] is unable to fulfill their duties, the members will elect a new manager.

Article IV: Capital Contributions

Each member will contribute [Amount] to the LLC in exchange for their membership interest. Any additional capital contributions must be approved by a majority of the members.

Article V: Profits and Losses

Profits and losses will be allocated to each member in proportion to their ownership interest.

Article VI: Distributions

Distributions will be made to members at the discretion of the manager. Distributions will be made in proportion to each member’s ownership interest.

Article VII: Dissolution

The LLC will dissolve if:

– All members agree to dissolve the LLC

– The LLC is unable to pay its debts and obligations

– A court order requires the dissolution of the LLC

Article VIII: Miscellaneous

Any amendments to this Agreement must be approved by a majority of the members. This Agreement shall be binding on the members and their respective heirs, executors, administrators, and assigns.

In conclusion, having an Operating Agreement for your LLC in Florida is essential to protect your business and ensure it operates smoothly. This sample Operating Agreement can serve as a guide but it is important to consult with a lawyer to ensure that the agreement is tailored to your specific needs.