Articles of Incorporation Operating Agreement serves as the primary governing document for newly formed corporations in the United States. This document is essential when establishing a new business entity, as it outlines both the formal creation of the company and its operational procedures. It includes crucial information such as company name, purpose, ownership structure, management responsibilities, and capital contributions. The document must comply with state-specific requirements and is typically required during business registration, opening bank accounts, seeking investment, or establishing business relationships. It provides the legal framework for corporate governance and protects member interests while ensuring regulatory compliance.
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1. Article I - Organization: Company name, purpose, principal office, registered agent details, and formation provisions
2. Article II - Members: Initial members identification, capital contributions, and membership interests allocation
3. Article III - Management: Management structure, voting rights, decision-making procedures, and authority of managers/members
4. Article IV - Capital Accounts: Rules for maintaining and adjusting capital accounts, including initial capital contributions and subsequent adjustments
5. Article V - Allocations and Distributions: Procedures for profit/loss allocation and distribution of company funds among members
1. Buy-Sell Provisions: Rules governing the transfer of membership interests, including right of first refusal and forced sale provisions
2. Special Allocations: Specific allocation rules for tax purposes and special circumstances requiring different distribution methods
3. Series LLC Provisions: Specific provisions for establishing and managing series LLCs, including segregation of assets and liabilities
4. Dispute Resolution: Procedures for resolving conflicts between members, including mediation and arbitration provisions
1. Schedule A - Members and Capital Contributions: Detailed list of all members and their respective initial capital contributions
2. Schedule B - Members' Percentage Interests: Complete breakdown of ownership percentages and voting rights allocation
3. Exhibit A - Definitions: Comprehensive list of defined terms used throughout the agreement
4. Exhibit B - Tax Matters: Detailed tax provisions, elections, and procedures for handling tax-related issues
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