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Covers the company’s purpose and business powers, member names and capital contribution structure via Table A, distribution and allocation rules based on membership interests, and tax treatment including partnership classification and potential election under the Internal Revenue Code. 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Short-Form Operating Agreement for Member-Managed LLC  \nOPERATING AGREEMENT OF (insert full name of LLC)  \nTHIS OPERATING AGREEMENT (the “Agreement”) is hereby entered into by the undersigned, who are owners and shall be referred to as Member or Members.  \nRECITALS  \nThe Members desire to form (insert full name of LLC), a limited liability company (the“Company”), for the purposes set forth herein, and, accordingly, desire to enter into this Agreement in order to set forth the terms and conditions of the business and affairs of the Company and to determine the rights and obligations of its Members.  \nNOW, THEREFORE, the Members, intending to be legally bound by this Agreement, hereby agree that the limited liability company operating agreement of the Company shall be as follows:  \nARTICLE I. DEFINITIONS  \nWhen used in this Agreement, the following terms shall have the meanings set forth below.  \n1.1 “Act” means the Limited Liability Company Law of the State in which the Company is organized or chartered, including any amendments or the corresponding provision(s) of any succeeding law.  \n1.2 “Capital Contribution(s)” means the amount of cash and the agreed value of property, services rendered, or a promissory note or other obligation to contribute cash or property or to perform services contributed by the Members for such Members’ Interest in the Company, equal to the sum of the Members’ initial Capital Contributions plus the Members’ additional Capital Contributions, if any, made pursuant to Sections 4.1 and 4.2, respectively, less payments or distributions made pursuant to Section 5.1.  \n1.3 “Code” means the Internal Revenue Code of 1986 and the regulations promulgated thereunder, as amended from time to time (or any corresponding provision or provisions of succeeding law) .  \n1.4 “Interest” or “Interests” means the ownership Interest, expressed as a number, percentage, or fraction, set forth in Table A, of a Member in the Company.  \n1.5 “Person” means any natural individual, partnership, firm, corporation, limited liability company, joint-stock company, trust, or other entity.  \n1.6 “Secretary of State” means the Office of the Secretary of State or the office charged with accepting articles of organization in the Company’s state of organization.  \nARTICLE II. FORMATION  \n2.1 Organization. The Members hereby organize the Company as a limited liability company pursuant to the provisions of the Act.  \n2.2 Effective Date. The Company shall come into being on, and this Agreement shall take effect from, the date the Articles of Organization of the Company are filed with the Secretary of State in the state of organization or charter.  \n2.3 Agreement: Invalid Provisions and Saving Clause. The Members, by executing this Agreement, hereby agree to the terms and conditions of this Agreement. To the extent any  \nprovision of this Agreement is prohibited or ineffective under the Act, this Agreement shall be deemed to be amended to the least extent necessary in order to make this Agreement effective under the Act. In the event the Act is subsequently amended or interpreted in such a way to validate any provision of this Agreement that was formerly invalid, such provision shall be considered to be valid from the effective date of such amendment or interpretation.  \nARTICLE III. PURPOSE; NATURE OF BUSINESS  \n3.1 Purpose; Nature of Business. The purpose of the Company shall be to engage in any lawful business that may be engaged in by a limited liability company organized under the Act, as such business activities may be determined by the Member or Members from time to time.  \n3.2 Powers. The Company shall have all powers of a limited liability company under the Act and the power to do all things necessary or convenient to accomplish its purpose and operate its business as described in Section 3.1 here.  \nARTICLE IV. MEMBERS AND CAPITAL CONTRIBUTIONS  \n4.1 Members and Initial Capital Contribution. The name, address, Interest, and value o","cbCaiqdkS8SsHxKL","https://ap.wps.com/l/cbCaiqdkS8SsHxKL","pdf",59043,7,"English","# Article I. Definitions\n# Article II. Formation\n# Article III. Purpose; Nature of Business\n# Article IV. Members and Capital Contributions\n# Article V. Distributions and Allocations\n# Article VI. Taxation\n# Article VII. Management by Members","[{\"question\":\"What is the purpose of this short-form operating agreement template for an LLC?\",\"answer\":\"It sets the terms and conditions governing the LLC’s business and affairs, including member rights and obligations, across key articles such as formation, purpose, capital contributions, distributions, taxation, and management.\"},{\"question\":\"How are member capital contributions handled in the agreement?\",\"answer\":\"Initial capital contribution details (name, address, interest, and value) are set out on Table A, while members generally have no obligation for additional contributions unless they unanimously decide they are necessary or desirable.\"},{\"question\":\"How does the agreement address taxation for the LLC?\",\"answer\":\"It treats income and loss allocations under Article V for federal and applicable state income tax reporting, generally classifying the company as a partnership unless members unanimously elect to classify it as an association taxable as a corporation under the Internal Revenue Code.\"}]","LLC Short-Form Operating Agreement for Member-Managed LLC - Article Template | PDF",1789569993]