The Michigan LLC Operating Agreement Template is offered in multiple formats, including PDF, Word, and Google Docs, featuring both editable and printable samples for your convenience.
Michigan Llc Operating Agreement Template UK Editable – PrintableSample
Michigan LLC Operating Agreement Template 1. Company Information 2. Member Information 3. Agreement Details 4. Purpose of the LLC 5. Management Structure 6. Capital Contributions 7. Distribution of Profits and Losses 8. Meetings 9. Transfer of Membership Interests 10. Indemnification 11. Amendment of Agreement 12. Governing Law 13. Signatures and Agreement 14. Declaration and Signatures
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Examples
[Name of the LLC]
This LLC Operating Agreement (the “Agreement”) is made effective as of [Effective Date] by and between the Members whose signatures are affixed below.
The purpose of this LLC is to conduct any lawful business activity permitted under the laws of the State of Michigan.
The Members of the LLC are:[List Names and Addresses of Members]
The LLC will be managed by [indicate whether it is member-managed or manager-managed], with the following members designated as Managers: [List Names].
The initial capital contributions of the Members shall be as follows: [Outline contributions from each member and the ownership percentages].
Distributions of profits and losses shall be allocated to the Members in proportion to their percentage interests in the LLC as outlined in Article V.
No Member may transfer their interest in the LLC without the prior written consent of the other Members, except to a member’s heirs or beneficiaries.
The LLC shall indemnify any Member or Manager for actions taken on behalf of the LLC, provided such actions were not grossly negligent or willfully wrong.
This Agreement may be amended only with the written consent of all Members.
[Signature of Member 1]
[Name of Member 1]
[Signature of Member 2]
[Name of Member 2]
[Add additional signatures as necessary]
[Name of the LLC]
This Operating Agreement is entered into on [Effective Date] by and between the undersigned Members.
The purpose of this LLC is to engage in [describe business activities] and any other lawful business as permitted by Michigan law.
The LLC shall have the following Members: [List Names and Addresses of Members and their respective ownership percentages].
The LLC shall be managed by its Members, unless otherwise designated. Each Member shall have the authority to act on behalf of the LLC as per the details herein.
Initial Contributions are as follows: [List amounts and forms of contributions, e.g., cash, property, services]. Membership interests shall be as follows: [List ownership percentages].
Profits and losses shall be allocated in accordance with the ownership percentages of the Members as stated in the capital contributions.
The LLC shall maintain adequate books and records of the LLC’s financial activities and shall grant access to all Members.
Members are indemnified against any loss incurred in connection with LLC, provided it does not arise from willful misconduct.
This Agreement can only be amended upon the mutual written consent of all Members.
[Signature of Member 1]
[Name of Member 1]
[Signature of Member 2]
[Name of Member 2]
[Add additional signatures as necessary]
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