Texas Limited Liability Company Operating Agreement
This Operating Agreement is made effective as of the ___ day of __________, 20__, by and between the undersigned members (the "Members") for the purpose of forming a Limited Liability Company (the "Company") under the laws of the State of Texas.
The Members agree as follows:
Article I: Formation
The Members hereby form a Limited Liability Company under the Texas Limited Liability Company Act, Chapter 101 of the Texas Business Organizations Code.
Article II: Name
The name of the Company shall be: ______________________________
Article III: Principal Office
The principal office of the Company shall be located at:
______________________________
Article IV: Purpose
The purpose of the Company is to engage in any lawful activity for which a limited liability company may be organized under the laws of Texas.
Article V: Members
The initial Members of the Company are as follows:
- Name: ______________________________, Address: ______________________________
- Name: ______________________________, Address: ______________________________
Article VI: Capital Contributions
The Members shall make the following initial capital contributions:
- ______________________________: $_________________
- ______________________________: $_________________
Article VII: Profits and Losses
Profits and losses shall be allocated to the Members in proportion to their respective percentage interests in the Company, as follows:
- ______________________________: ___%
- ______________________________: ___%
Article VIII: Management
The Company shall be managed by its Members. Decisions shall be made by a majority vote of the Members.
Article IX: Indemnification
The Company shall indemnify any Member against expenses and liabilities incurred in connection with the Company to the extent permitted by Texas law.
Article X: Amendments
This Agreement may be amended only by a written agreement signed by all Members.
IN WITNESS WHEREOF, the Members have executed this Operating Agreement on the day and year first above written.
Member Signature: _______________________________ Date: ___________
Member Signature: _______________________________ Date: ___________