Certification Of No Operating Agreement

A well-written company agreement avoids costly litigation and ultimately protects the members of a limited liability company. Although Texas law does not require a written corporate agreement from LLCs, it is unwise to create an LLC without one. A corporate agreement is a binding contract between the members of an LLC that defines the specific rights and obligations of each member, including profit and loss allocation, voting rights, dues, departures, buyouts, and dissolutions. Except as otherwise provided in a society agreement, members may not be withdrawn or excluded from other members. TBOC § 101.107 (West 2017). All information made available on Silblawfirm.com (hereinafter referred to as the „Website“) is intended for informational purposes only and is not intended for legal advice.

You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

Comments are closed.