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Fill and Sign the How to Form an Llc in Alabamanolo

Fill and Sign the How to Form an Llc in Alabamanolo

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- 1 - SINGLE-MEMBER OPERATING ARRANGEMENT OF _______________________________ LIMITED LIABILITY COMPANY STATE OF ALABAMA THIS OPERATING ARRANGEMENT is hereby established, this the _____ day of ______________, 20___, by _____________________________________ the Initial Member. The Initial Member contemplates that additional Members may join the limited liability company in the future, and the following Operating Arrangement has therefore been developed. ARTICLE I FORMATION OF LIMITED LIABILITY COMPANY 1. Formation of LLC. The Initial Member has formed a limited liability company in the State of Alabama named ___________________________________________________ ("LLC"). The operation of the LLC shall be governed by the terms of this Arrangement and the applicable laws of the State of Alabama relating to the formation, operation and taxation of a LLC. To the extent permitted by law, the terms and provisions of this Arrangement shall control if there is a conflict between state law and this Arrangement. The LLC shall be taxed as a sole proprietorship until and unless additional Members are added, after which the LLC will be taxed as a partnership. Any provisions of this Arrangement that may cause the LLC not to be taxed as a sole proprietorship or partnership shall be inoperative. 2. Articles of Organization. The Initial Member has caused to be filed Articles of Organization, (“Articles”) of record with the state, thereby creating the LLC. 3. Business. The business of the LLC shall be: a) _________________________________________________________ _________________________________________________________ _________________________________________________________ and b) To conduct or promote any lawful businesses or purposes that a limited liability company is legally allowed to conduct or promote, within this state or any other jurisdiction.
The llc will engage in any business (‡) the members of thLLClc are legally required to engage in and the LLC member is legally required to conduct and promote within the LLC. B) in fact perform the business activities of the LLC and c) have a principal place of business in this state. 4. Registration. The LLC's certificate of incorporation is deemed effective at the effective time of this writing and the LLC member shall not become a shareholder of the LLC until six months after the llc is formed. At the initial formation of the LLC, the llc member shall not own any stock in the LLC and the llc member will not be authorized to issue stock to the LLC member for investment, but rather for the LLC member to use for investment purposes or on behalf of the LLC member. Any future issuance of stock to a member of the LLC will be subject to such member's right to participate in the business decisions of the LLC, and the llc member will be authorized in its sole discretion to sell the stock to another individual or entity or to sell it to, and to distribute to, the LLC member's family members or any member's creditors. Stock may be issued by the LLC for its sole use or for such limited use permitted under this agreement. The LLC member may issue an initial series of one thousand shares of the LLC stock which will be the llc member's sole and exclusive right and obligation with respect to such shares. In consideration for the consideration provided in this offering in exchange for each share of llc stock, the llc member will not be entitled under any other agreement with the underwriters to subscribe for securities in the future in the same or any other series, to pay for any securities sold in the future in the trading market or to have any of the foregoing obligations imposed by the LLC membership agreement. The llc member shall be solely responsible for and fully liable for the actions, practices and agreements of the LLC and any of the members of the llc and the members may not directly or indirectly charge or demand from the LLC member any of our obligations under this agreement. A right of action exists or may arise in the event the LLC member violates any provision of this agreement, which in a specific circumstance may constitute a breach of this agreement, and as a result, an action in the nature of an administrative proceeding will result; such an action will be confined to the individual member unless this agreement provides otherwise. This agreement shall continue in effect as long as the LLC member is a member of the llc. The llc member's authority to act as a.

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