Where Is My Llc Operating Agreement

This provision describes how a person may acquire an interest in the LLC. If there is no such provision and you want to add a partner later, you can always prepare a brand new operating contract. How can a member`s LLC interests be transferred? Corporate agreements typically provide for a “right of first refusal” when a member wishes to sell, which gives other members the right to buy the outgoing member on the same terms as those offered by a potential third-party buyer. Other states may have similar requirements. Check with your state`s department of affairs (usually the Secretary of State`s office) to make sure you meet all the legal requirements for a company agreement. States require each LLC to identify a commercial agent, that is, a natural or legal person who receives legal advice for the company.