Texas Series Llc Operating Agreement Template – US

Disclaimer

The information provided pertains to the management and operation structure of a specific type of LLC agreement used in certain jurisdictions. It is intended solely for general understanding and educational purposes. This content does not constitute legal advice and should not replace consulting a qualified attorney experienced in entity formation and contractual arrangements within that jurisdiction. Laws and regulations may vary, and modifications might be necessary to ensure compliance. The use of this information is at the user’s own risk, and no liability is assumed for errors, omissions, or consequences resulting from its application without professional legal review.

Please note: This is a sample Texas Series LLC Operating Agreement US template, provided for illustrative purposes only. Actual terms may differ based on specific arrangements and applicable laws.

Sample Texas Series LLC Operating Agreement

Introduction:

This Operating Agreement outlines the structure, operation, and management of Texas Series LLC, including the various series within the LLC, and sets forth the rights and obligations of the Members, Managers, and other stakeholders.

Formation:

The LLC was formed in accordance with the Texas Limited Liability Company Act, with the filing of Articles of Organization on [Date], and is governed by this Agreement and applicable Texas law.

Series Structure:

The LLC is authorized to establish multiple series, each with separate assets, liabilities, and members. Each series shall operate as a distinct entity for liability purposes, governed by the terms set forth herein.

Management:

The LLC shall be managed by [Members/Managers], who shall oversee the operations of the LLC and its series in accordance with this Agreement and applicable law.

Members and Rights:

Members shall have voting rights, profit distributions, and responsibilities as detailed herein, with specific provisions for series members as needed.

Financial Arrangements:

Profits, losses, and distributions shall be allocated among Members and series in proportion to their respective interests, with separate books and records maintained for each series.

Dissolution:

The LLC may be dissolved upon approval by Members holding a specified percentage of interests, with procedures for winding up the affairs of each series individually.

Amendments:

This Agreement may be amended only through a written agreement signed by Members holding a majority interest, provided such amendments are permitted under Texas law.

Austin, Texas, ______________________