Disclaimer
The content provided is intended solely as a general example for informational purposes related to partnership and LLC agreements in the United States, specifically focusing on Arizona. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in business law or corporate agreements. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.
Please note: This is a sample Operating Agreement for an LLC in Arizona, provided for illustrative purposes only. Actual terms and provisions may differ based on specific arrangements and legal requirements.
Sample Operating Agreement for LLC in Arizona
Introduction:
This Operating Agreement (the “Agreement”) is made and entered into by and among the Members of [Your LLC Name], an Arizona Limited Liability Company (“LLC”). This document outlines the rights, responsibilities, and obligations of the Members and governs the operation of the LLC.
Members:
Member 1: [Member Name 1]
Address: [Address of Member 1]
Member 2: [Member Name 2]
Address: [Address of Member 2]
Purpose and Formation:
The LLC is formed under the laws of the State of Arizona for the purpose of [business purpose], and any other lawful activities as determined by the Members.
Capital Contributions:
Members shall contribute capital to the LLC as set forth herein. Additional contributions may be made as agreed upon by the Members.
Management:
The LLC shall be managed by [Members / Managers], who shall have full authority to make decisions, enter into agreements, and oversee the operations of the LLC.
Profits, Losses, and Distributions:
Profits and losses shall be allocated to Members in proportion to their respective ownership interests, and distributions shall be made accordingly.
Dissolution:
The LLC may be dissolved upon written agreement of the Members or as otherwise provided by law. Upon dissolution, assets shall be liquidated and distributed to Members in accordance with their interests.
Amendments:
This Agreement may be amended only by a written agreement signed by all Members.
Governing Law:
This Agreement shall be governed by and construed in accordance with the laws of the State of Arizona.
Executed in Phoenix, Arizona, on ______________________
[Member Name 1]
[Member Name 2]