North Carolina Limited Liability Company Operating Agreement
This Operating Agreement (the “Agreement”) is entered into as of the ____ day of __________, 20___, by and among the following members:
- Name: ________________________
- Address: ______________________
- Name: ________________________
- Address: ______________________
This Agreement is made pursuant to the North Carolina Limited Liability Company Act (Chapter 57D of the North Carolina General Statutes).
Article 1: Formation
The Members hereby form a Limited Liability Company (the “Company”) under the laws of North Carolina. The name of the Company shall be ________________________. The principal office of the Company shall be located at ______________________________.
Article 2: Purpose
The purpose of the Company is to engage in any lawful act or activity for which limited liability companies may be formed in North Carolina.
Article 3: Members and Capital Contributions
-
Members: The Members of the Company are:
- ________________________
- ________________________
-
Initial Capital Contributions: The following initial capital contributions shall be made by each Member:
- ________________________
- ________________________
Article 4: Management
The Company will be managed by its Members. Any Member may act on behalf of the Company, and decisions will be made by majority vote unless otherwise agreed.
Article 5: Distributions
Profits and losses shall be allocated to each Member according to their respective percentage interests in the Company, as outlined below:
- ________________________: ______________%
- ________________________: ______________%
Article 6: Amendments
This Agreement may be amended only by a written agreement signed by all Members.
Article 7: Indemnification
To the fullest extent permitted by law, the Company shall indemnify and hold harmless each Member from any loss, liability, or expense incurred as a result of their activities on behalf of the Company, provided that such indemnification shall not apply in cases of gross negligence or willful misconduct.
Signature
IN WITNESS WHEREOF, the Members have executed this Operating Agreement as of the date first above written.
__________________________ __________________________
Member (Printed Name) Member (Printed Name)
__________________________ __________________________
Signature Signature
Date: _____________________ Date: _____________________
This document should be reviewed and completed in accordance with North Carolina law. Consult with an attorney for specific legal advice.