Disclaimer
The information provided is intended solely as a general example for informational purposes related to formal partnership agreements in the state of New York. 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 contractual agreements. Laws and regulations in this jurisdiction may vary, and adjustments may be necessary 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 LLC Operating Agreement template for New York, US, provided for illustrative purposes only. Actual terms should be tailored to specific circumstances and legal advice.
Sample LLC Operating Agreement – New York, US
Introduction:
This Limited Liability Company Operating Agreement (“Agreement”) is entered into by and among the Members of the LLC organized under the laws of New York, US, effective as of ______________________.
Members:
Member 1: _________________________
Address: _________________________
Member 2: _________________________
Address: _________________________
Purpose:
The purpose of this LLC is to engage in any lawful business activity permitted under New York laws and as agreed upon by the Members.
Capital Contributions:
The Members agree to contribute capital as follows:
- Member 1: $____________________
- Member 2: $____________________
Management:
The LLC shall be managed by the Members unless otherwise specified. Decisions shall be made based on voting rights proportionate to each Member’s percentage of ownership.
Profits and Losses:
Profits and losses shall be allocated among Members in proportion to their respective ownership interests, with distributions made accordingly.
Dissolution:
The LLC may be dissolved upon mutual consent of Members or as provided by law. Upon dissolution, assets shall be liquidated and distributed to Members as per their ownership interests.
Governing Law:
This Agreement shall be governed by the laws of the State of New York, US.
Additional Provisions:
- Amendments to this Agreement shall be made in writing and signed by all Members.
- Any disputes arising under this Agreement shall be resolved through arbitration in New York, NY.
- The Members agree to maintain accurate books and records of the LLC’s activities.
Dated in New York, NY, ______________________
Member 1
Member 2