Disclaimer
The information provided is for general guidance on the formation and operation of a limited liability company in Michigan. It is not legal advice and should not replace consultation with a qualified attorney familiar with Michigan state laws. Legal requirements and regulations may vary, and professional review is recommended to ensure compliance. Use of this information is at the user’s own risk, and we bear no liability for errors or outcomes resulting from reliance on this material without proper legal counsel.
This sample Michigan LLC Operating Agreement is provided for illustrative purposes only. Specific details may vary based on individual circumstances and legal requirements. Adjust the content as needed.
Sample Michigan LLC Operating Agreement
Parties Involved:
Member 1: Alice Johnson
Address: 789 Maple Street, Detroit, MI 48201
Member 2: Bob Williams
Address: 456 Oak Avenue, Lansing, MI 48910
Company Purpose:
The purpose of this Michigan Limited Liability Company (“LLC”) is to engage in lawful business activities, including but not limited to consulting and investment services, as determined by the Members.
Management:
The LLC shall be managed by its Members. Decisions shall require the approval of a majority of the Members, unless otherwise specified in this Agreement.
Capital Contributions:
The Members shall contribute capital to the LLC as follows:
- Alice Johnson: $50,000
- Bob Williams: $50,000
Profit and Loss Distribution:
Profits and losses shall be allocated to the Members in proportion to their respective capital contributions unless otherwise agreed.
Dissolution:
The LLC may be dissolved upon written agreement of the Members or as otherwise provided by law. Upon dissolution, assets shall be distributed in accordance with the Members’ capital interests.
Additional Provisions:
- Amendments to this Agreement require the written consent of all Members.
- Any disputes shall be settled through binding arbitration in Michigan.
- This Agreement shall be governed by the laws of the State of Michigan.
Detroit, ______________________
Alice Johnson (Member)
Bob Williams (Member)