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Complete our simple online form
Our secure and easy form can be filled in less than 10 minutes. The whole process is designed to save your time and money.
We evaluate your Standard Operating Agreement paperwork
Our Business Specialist will prepare and examine the required paperwork for your company’s Standard Operating Agreement.
Receive your Operating Agreement
We will send the Operating Agreement back to you via email and post with guidelines on how to sign your documents.
Standard Operating Agreement
Basically, an operating document allows owners to create the basic working and rules of the LLC as per their individual requirements. This agreement can be written or verbal depending upon the choice of the members. Major topics included in an LLC operating agreement include the amount contributed by members, meeting rules and the basic rules governing the overall decision making process. In states of Nebraska, Maine, Delaware, California and New York, businesses owners of an LLC are lawfully instructed to form an operating agreement. Bear in mind that given the immense significance of this document, it is still not mandatory for business owners form an operating agreement. Essentially, the operating agreement allows the owners to create a specific set of rules for every member to follow, thus giving structure and order to the LLC.
Standard Operating Agreement
A standard operating agreement is very fundamental LLC (Limited Liability Company) document. Primarily, a company creates an operating agreement to be in control of its operations. Likewise, it is a contract amongst the members of an operating legal entity. Apply for a standard operating agreement for your company online to avoid unnecessary hassles and complicated paperwork. Our trusted and experienced specialists will take care of all the procedures and associated legalities for you. A simple three step process lets us file for an agreement on your behalf and deliver it directly to you.
Frequently Asked Questions
What are the functions of a standard operational agreement?
A standard agreement lays the foundation stone for your business to build upon. It serves as a multi-functional charter to ease out any possible troubles that you may face in the future:
- Keeps away the risk of an LLC being mistaken for a partnership/sole proprietorship and therefore, removes conflicts.
- Additionally, it guards the contract between members under state laws subjected to the agreement by the general state default rules.
- Most noteworthy feature of a standard agreement is that it provides tax and liability benefits almost identical to those of a corporation.
- Also protects the limited liability status of your company and formalizes the members’ personal liability protection.
- Another function of a standard operating agreement is that it guarantees protection that members afford via an LLC business structure.
What structural benefits can this agreement provide to my business?
This operating agreement helps you structure out your business strategically.
- A standard operational agreement also describes the allocation of shares method as agreed on by the members. In addition, it discloses terms regarding the distribution of the profits & losses incurred by the company.
- States mandatory requirements for the annual distribution of stocks and other distribution strategies are outlined to alleviate the personal tax burdening the members.
- Also allows provisions for allocations that don’t use ownership proportion to distribute shares.
- Consequently, it helps in building methods for trading interest in the company or transferring ownership in case of death/disability.
How can members get a copy of the agreement?
If you are the member of an LLC, you get a copy of the standard operating agreement after it comes into existence. However, if you don’t get a copy; you have the right to request one from either another member or the registered agency.
What information do I need to provide when applying for this agreement?
First of all, we will need the basic information about your business, including:
- Your business’ name and address.
- What your legal entity does or produces?
- Also, the names of members involved within the business.
Subsequently, you have to specify other necessary information, which includes:
- Effective date of the agreement.
- Registered agent for your business.
- Life of the agreement in years.