Free Georgia LLC Operating Agreement Templates

A Georgia LLC Operating Agreement is a formal instrument created to protect the status of a newly formed LLC and determine how the business is going to function in the nearest future and in the long run. Note that in accordance with the current laws of the state, you are not obliged to draft an operating agreement but it is beneficial to keep a copy in your records - you can always demonstrate it to a potential business partner or a financial institution while you are negotiating a contract or refer to the Georgia LLC Operating Agreement requirements in case the owners disagree on a certain issue and want to find common ground without delay.

Georgia LLC Operating Agreement Template Types

• A Georgia Single-Member LLC Operating Agreement Template is the instrument for you if you are the only person or you represent the only business that is going to own the LLC in question - safeguard your personal assets by confirming your organizational structure in this document;
• Georgia Multi-Member LLC Operating Agreement Template. In the majority of cases, there is more than one owner of the LLC - it is strongly advised to lay down the rules explaining how the company will be run on a daily basis so that the financial operations are carried out without any troubles arising from the internal conflicts.

How to Form an LLC in Georgia?

Follow these steps to prepare an LLC Operating Agreement in Georgia and start your own business:

1. Select an individual that lives in Georgia or a corporation located in the state to be your representative and receive documentation in the name of the LLC. The person or entity you choose must be identified in the application you submit to the Corporations Division to open a business - make sure you file the correct form, there are two different instruments for domestic and foreign companies. The amount of the filing fee also varies - $100 for domestic entities and $225 for foreign ones.
2. Work on the Georgia LLC Operating Agreement Template with the other members - the text of the document should be acknowledged and approved by all members. When it comes to the contents of the agreement, it is your choice to decide what to include in writing; however, at a minimum, it has to confirm the legal name of your entity and the address of the company, elaborate on the purpose of the business and mention your primary objectives, list the names of members and managers and describe their main rights and duties, explain how the capital of the organization is built and how the members are supposed to conduct their meetings, grant voting rights to all the owners who will respond to arising issues and resolve them in the best interest of the company, and clarify how the entity will deal with potential departures of members and the termination of business activities. Once the final version of the agreement is ready, all the members sign it - maintain an updated document with other internal rules and manuals of your organization.
3. Obtain an employer identification number - this unique number assigned by the Internal Revenue Service will allow you to submit tax returns, boost your credibility in the industry even if you are just starting your operations, prove the legitimate status of the business to prospective associates and banks that will require it before you open an account or get a loan, and hire employees whenever you want.

Still looking for a particular template? Take a look at the related forms below:

• LLC Forms;
• Partnership Forms;
• Corporation Forms.