OPERATING AGREEMENT - 1 Business Law 210 Spring xxxx...

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Business Law 210 Spring xxxx Writing Assignment II – Operating Agreement 2
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OPERATING AGREEMENT OF COMPANY NAME, LLC Upon valuable consideration, the persons named below as "Members" hereby covenant and agree to be bound to the following as their LIMITED LIABILITY COMPANY OPERATING AGREEMENT dated this 16 th day of April, 2008 (this "Agreement" or this "Operating Agreement") for COMPANY NAME, LLC, a limited liability company organized under the laws of the State of Washington. ARTICLE I DEFINITIONS As used in this Operating Agreement, the following terms are to have the meaning as stated below: "LLC" means "Limited Liability Company" and "the LLC" or “ The Company ” refers to COMPANY NAME, LLC. "LLC Units" or "Units" means measures of ownership in the LLC. The capital structure of the LLC shall consist of Units all of the same class with equal rights for all purposes under this Operating Agreement. "LLC Unit Percentage" means, with respect to an LLC member, the percentage derived from the following fraction: number of LLC Units held by such Member divided by the total number of LLC Units held by all Members (and, thereafter, multiplying said fraction by 100 to arrive at a percentage). "State Law" means the laws of the State of Washington. "Supermajority vote in interest of LLC members" means a vote of the LLC members in which each LLC member shall have one vote per LLC Unit possessed and the number of affirmative votes for any resolution before the members shall be more than 66% of the outstanding LLC Units. For example, if there are 1000 outstanding LLC Units, 667 affirmative votes are required to achieve a Supermajority vote in interest upon a resolution before the members. ARTICLE 2 PRELIMINARY PROVISONS Section 2.1 EFFECTIVE DATE This Operating Agreement COMPANY NAME, LLC. Effective on the date of signing, is adopted by the members whose signatures appear at the end of this agreement. 3
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Section 2.2 FORMATION This limited liability company (LLC) was formed by filing Articles of Organization, a Certificate of Formation or a similar organizational document with the state of Washington’s LLC filing office on April 11 th , 2008. Unless a delayed effective date was specified when the Articles, Certificate of Formation or similar document was filed, the legal existence of this LLC commenced on the date of such filing. A copy of this organizational document has been placed in the LLC's records book. Section 2.3 NAME The formal name of this LLC is as stated above. However, this LLC may do business under a different name by complying with the state's fictitious or assumed business name statutes and procedures. Section 2.4 REGISTARED OFFICE The registered office address of this LLC is: 000 Stadium Way Pullman, Washington 99163 The registered office of this LLC may be changed from time to time as the members may see fit, by filing a change of registered agent or office statement with the state LLC filing office. It will not be necessary to amend this provision of the Operating Agreement if and when such
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OPERATING AGREEMENT - 1 Business Law 210 Spring xxxx...

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