Operating Agreement for an All Powerful Manager Limited Liability Company

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The Operating Agreement for an All Powerful Manager Limited Liability Company is a fill-in-the-blank document that provides the Company owners/members/managers the rules and guidelines by which to run the Company. This type of LLC is similar to a limited partnership. This type of LLC will have one or more managers who run the business. The LLC members may not vote to replace or remove the manager(s). The All Powerful Manager LLC is ideal in any situation where one party or group wants absolute control, but is willing to share the profits with other investors, partners, or family members. Members that are not managers may be subject to or entitled to passive tax treatment. You should consult your tax advisor before using this type of Limited Liability Company.

Corporate Kits Plus, Inc. reviews and updates these documents according to the most recent changes in the law. These documents are only available at this time and designed for use in the following states: Georgia. All other states should use the Generic Operating Agreement, good for all 50 states.

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Operating Agreement for an All Powerful Manager Limited Liability Company

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Product Details

The document includes an Operating Agreement Section, including definitions, formation and business documents, rights and duties of managers, rights and obligations of members, meeting guidelines, member contributions to company and capital accounts, distributions to members, allocation of net profits and net losses, guidelines for books and records, transferability, interest subscription and investment letter, issuance of additional membership interest, dissolution and termination, and other miscellaneous provisions.

The document also includes a Forms Section, including a sample promissory note and companion resolution, a sample blank general resolution form, and a sample bill of sale with a companion resolution.

We also include an Optional Memo, which includes a helpful checklist for local, state, and federal regulations for after incorporation. You may personalize your documents with your Company Name to appear throughout for an additional fee.

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