Disclaimer
The content provided is intended solely as a general example for informational purposes related to legal agreements establishing limited liability companies in Ohio. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney specializing in business law or contracts. Laws and regulations may vary depending on the jurisdiction, and adjustments may be required to ensure compliance with local requirements. The use of this example is the sole responsibility of the user, and we assume no liability for any errors, omissions, or consequences arising from its use without professional review.
Please note: This is a sample Operating Agreement template for an LLC based in Ohio, intended for illustrative purposes only. Actual terms may vary depending on specific arrangements and legal requirements.
Sample Operating Agreement of Ohio LLC
1. Formation and Purpose:
This Operating Agreement is made for the Ohio limited liability company named XYZ Ohio LLC, formed on [Formation Date], for the purpose of conducting lawful business within Ohio and as outlined in the Articles of Organization.
2. Members and Capital Contributions:
The LLC shall have the following members with respective capital contributions:
- John Doe — $10,000
- Jane Smith — $15,000
3. Management and Voting:
The LLC shall be managed by the members collectively. Decisions shall be made by a majority vote, unless otherwise specified herein.
4. Allocation of Profits and Losses:
Profits and losses shall be allocated to members in proportion to their respective capital contributions unless otherwise agreed.
5. Bank Accounts and Records:
The LLC shall maintain a bank account in Ohio. Accurate books and records shall be kept and available for inspection by members at reasonable times.
6. Dissolution and Termination:
The LLC may be dissolved upon unanimous consent of members or as provided under Ohio law, with distribution of remaining assets accordingly.
7. Miscellaneous:
- This Agreement represents the entire understanding among members.
- Amendments must be in writing and signed by all members.
- Applicable Ohio laws shall govern this Agreement.
Columbus, ______________________
John Doe (Member)
Jane Smith (Member)