Oklahoma LLC Operating Agreement
The Oklahoma LLC Operating Agreement is the core document that is referred to when issues
concerning an Oklahoma limited liability
company (“LLC”) need to be resolved.
The LLC
Operating Agreement is the most important document for your Oklahoma 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 Oklahoma.
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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.
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you create a customized LLC operating agreement for your
Oklahoma LLC.
The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of Oklahoma 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 Oklahoma Limited Liability
Company
LLC
Filing Office
Secretary
of State
Business Filing Department
2300 N. Lincoln Blvd., Room 101
Oklahoma City, OK 73105-4897
Tel: 405-521-3912
https://www.sos.ok.gov/business/forms.aspx
Check Name Availability
Entity or Franchise Level Tax
Oklahoma
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
Oklahoma LLC Act is contained in Title 18, Chapter 32 of
the Oklahoma Statutes.
Important Statutory
Rules
LLC Management
An
LLC is managed by its managers unless the Operating Agreement
states that the LLC is to be managed by one or more members.
Admission of Members
No
statutory rule exists for admitting members.
The Operating Agreement shall govern how new members
are admitted to the LLC. Unless
otherwise provided in the Operating Agreement, the admission
of a transferee as a member must be approved by the members
holding a majority of the capital interests of the LLC.
Amending the Operating Agreement
Unless
otherwise provided in the Operating Agreement, amendments
to the Operating Agreement require approval by a majority
vote of the members. However, all members must approve amendments
to the Operating Agreement that:
·
Reduce
the LLC’s term of existence
·
Reduce
the vote required to dissolve the LLC
·
Permit
the member to voluntarily withdraw from the LLC
·
Reduce
the vote required to amend the Operating Agreement or Articles
of Organization
Dissolution
Unless
otherwise specified in the Operating Agreement, unanimous
written consent of all members is required to voluntarily
dissolve the LLC.
GET A CUSTOMIZED OKLAHOMA LLC
OPERATING AGREEMENT IN MINUTES
