North Carolina LLC Operating Agreement
The North Carolina LLC Operating Agreement is the core document that is referred to when issues
concerning a North Carolina limited liability company (“LLC”) need to be resolved.
The LLC
Operating Agreement is the most important document for your North Carolina LLC.
In the case of a single member LLC, without the formality
of an LLC Operating Agreement, the LLC can closely resemble
a sole proprietorship, which does not limit your personal
liability for business debts of the LLC.
With respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement among the members with
respect to the affairs and management of the LLC and governs
the relationship amongst the members of the LLC. By having
an LLC Operating Agreement, the members will be provided
with a clear set of rules that all members have agreed upon
greatly reducing the likelihood of disagreement between
them in the future. A LLC Operating Agreement will also
greatly reduce financial and management misunderstandings,
and make sure your business is governed by your own rules
-- not default rules created by the state of North Carolina.
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Whether your LLC
will have one or more members, will be managed by its members
or by elected managers, or will be granting one or more
members an interest in the LLC for the performance of services,
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agreement tailored to the needs of your business.
If you don’t want
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outdated internet forms, then let myLLCagreement.com help
you create a customized LLC operating agreement for your
North Carolina LLC.
The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of North Carolina will enforce
valid operating agreements entered into among LLC members.
The operating agreement will only be enforced against the
persons who are parties to the agreement. Therefore, it
is extremely important that all members of an LLC sign the
operating agreement.
Your North
Carolina Limited Liability Company
LLC Filing Office
Secretary
of State
2 South Salisbury Street
Raleigh, NC 27601-2903
Tel: 505-827-4722
www.secretary.state.nc.us/corporations/
Check Name Availability
Entity or Franchise Level Tax
North
Carolina does not require partnerships, LLCs taxable as
partnerships, or disregarded single-member LLCs to pay a
general net worth tax based on net income.
State LLC Act
The
North Carolina LLC Act is contained in Chapter 57C of the
North Carolina Statutes
Important Statutory
Rules
LLC Management
An
LLC is managed by its members unless the Operating Agreement
states that the LLC is to be managed by one or more managers.
Admission of Members
Unless otherwise provided in the Operating Agreement, new
interests in the LLC must be issued with the written consent
of all the members. Unless
otherwise provided in the Operating Agreement, the admission
of a transferee as a member must be approved by the unanimous
consent of all non-transferring members.
Amending the Operating Agreement
Unless otherwise provided in the Operating Agreement, amendments
to the Operating Agreement require the approval of all members.
Dissolution
Unless
otherwise specified in the Operating Agreement, approval
of a majority of the voting members is required to sell
all LLC assets or voluntarily dissolve the LLC.
Management Expenses
The
LLC must pay back managers for payments and personal liabilities
incurred in carrying out authorized business for the LLC.
GET A CUSTOMIZED NORTH CAROLINA
LLC OPERATING AGREEMENT IN MINUTES
