Oregon LLC Operating Agreement
The Oregon LLC Operating Agreement is the core document that is referred to when issues
concerning an Oregon limited liability
company (“LLC”) need to be resolved.
The LLC
Operating Agreement is the most important document for your Oregon 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 Oregon.
Need a LLC Operating Agreement for your Oregon LLC?
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Oregon LLC in a matter of minutes.
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,
myLLCagreement.com will generate a customized LLC operating
agreement tailored to the needs of your business.
If you don’t want
to spend thousands of dollars on a lawyer and don’t trust
outdated internet forms, then let myLLCagreement.com help
you create a customized LLC operating agreement for your
Oregon LLC.
The LLC operating
agreement does not have to be filed with any state agency.
All states, including the state of Oregon 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 Oregon
Limited Liability Company
LLC Filing Office
Secretary
of State
255 Capital St. NE, Ste 151
Salem, OR 97301-1327
Tel: 503-986-2200
www.filingoregon.com
Check Name Availability
Entity or Franchise Level Tax
Oregon
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
Oregon LLC Act is contained in Chapter 63 of the Oregon
Statutes
The Oregon LLC Act
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 LLC interests
must be issued with the consent of a majority of members.
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 of all the members.
Dissolution
Unless
otherwise specified in the Operating Agreement, unanimous
written consent of all members is required to voluntarily
dissolve the LLC.
Personal Financial Interest for a
Member or Manager
A
majority vote of the members is required to sell all LLC
assets or approve a transaction in which a member or manager
has a personal financial interest.
GET A CUSTOMIZED OREGON LLC
OPERATING AGREEMENT IN MINUTES
