Colorado LLC Operating Agreement
The Colorado LLC Operating Agreement is the core document that is referred to when issues
concerning a Colorado limited liability company (“LLC”)
need to be resolved.
The LLC
Operating Agreement is the most important document for your Colorado 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 Colorado.
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or more members, will be managed by its members or by elected
managers, or will be granting one or more members an interest
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The LLC operating agreement does
not have to be filed with any state agency. All states,
including the state of Colorado 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 Colorado
Limited Liability Company
LLC Filing Office
Secretary
of State
Business Division
1560 Broadway, Suite 200
Denver, CO 80202
Tel: 303-894-2200
www.sos.state.co.us/pubs/business/main.htm
Check Name Availability
Entity or Franchise
Level Tax
Colorado
does not require partnerships, LLCs taxable as partnerships,
or disregarded single-member LLCs to pay a general net worth
tax or a tax based on net income.
State LLC Act
The
Colorado LLC Act is contained in Title 7, Article 80 of
the Colorado Statutes - title 2.5
Important Statutory Rules
LLC Management
An
LLC is managed by its members unless the Articles of Organization
states that the LLC is to be managed by one or more managers.
Admission of Members
Unless
the Operating Agreement states otherwise, new membership
must be issued with the written consent of all members.
Amending the Operating Agreement
No
statutory rule exists for amending the LLC Operating Agreement. The members may set their own rules for amending
the LLC Operating Agreement.
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