Michigan Operating Agreement Template
This Operating Agreement is made and entered into this ____ day of __________, 20__, by and among the members listed below pursuant to the Michigan Limited Liability Company Act (Act 23 of 1993, as amended).
Company Name: ____________________________
Principal Office Address: ______________________
Effective Date: ____________________________
Article I: Formation
The Members hereby form a Limited Liability Company under the laws of the state of Michigan. The name of the Company is as follows: ____________________________.
Article II: Purpose
The purpose of the LLC is to engage in any lawful business activity as permitted in the State of Michigan. Specific purposes include, but are not limited to:
- _________________________________________________________________________
- _________________________________________________________________________
Article III: Members
The Members of the Company are:
- Name: ____________________________ - Ownership Percentage: __________%
- Name: ____________________________ - Ownership Percentage: __________%
Article IV: Management
Management of the LLC shall be vested in the Members. Decisions shall be made by majority vote, unless otherwise stipulated in this agreement.
Article V: Capital Contributions
The Members agree to contribute the following capital amounts to the LLC:
- Name: ____________________________ - Contribution Amount: $________________
- Name: ____________________________ - Contribution Amount: $________________
Article VI: Distributions
Profits and losses shall be allocated to the Members in proportion to their respective percentage interests in the LLC as outlined in Article III.
Article VII: Dissolution
The LLC may be dissolved upon the unanimous consent of the Members or as otherwise provided by law.
Article VIII: Amendments
This Operating Agreement may only be amended by a written agreement signed by all Members of the LLC.
Signatures
IN WITNESS WHEREOF, the Members have executed this Operating Agreement on the date first above written.
_____________________________ ____________________________
Member Signature Member Name
_____________________________ ____________________________
Member Signature Member Name