Free North Dakota LLC Operating Agreement Templates

A North Dakota LLC Operating Agreement is a formal document composed by the LLC members to elaborate on the main aspects of the company and explain how it functions now and in the long run. It is not obligatory to have this instrument in North Dakota; nevertheless, it is highly advised to draft one - it may be challenging to prove the legitimacy of your company to potential business partners without it and the owners will have an opportunity to avoid generic laws that rarely reflect their aspirations.

North Dakota LLC Operating Agreement Template Types

• A North Dakota Single-Member LLC Operating Agreement Template is going to be useful in case the company has one owner - you may think it is unnecessary to list the instructions you will adhere to in the future since you are making all decisions, yet you will benefit from clarifying how your business is run and confirming the entity is not obliged to submit separate tax paperwork;
• North Dakota Multi-Member LLC Operating Agreement Template. While some LLCs are opened by people that know each other well for years - relatives, friends, colleagues - it is not guaranteed you will never have an internal dispute. This is why an operating agreement will be valuable for your business - the conflicts can be resolved before they even begin.

How to Form an LLC in North Dakota?

Here is how you open an LLC in North Dakota:

1. Select a representative that will receive various legal correspondence in the name of your organization. You may choose a person or entity as long as they are residing in North Dakota or have permission to conduct business in its territory.
2. Register the company with the Secretary of State via their website. There are different documents for entities that start their business activities in North Dakota and those opened elsewhere - fill out the correct one. Do not forget to enclose the right amount of fee or your request will not be examined.
3. Think about the clauses to put in the North Dakota LLC Operating Agreement Template. You should prepare a document suitable for your needs and update it when you want - the procedures to amend the instrument have to be outlined in the agreement. Write down the name of the company, its location, and goals, identify the members and record their rights and duties, describe how the revenue and the stock will be distributed among the owners, and list the steps to take whenever the owners need to convene a meeting, vote on a certain matter, modify the internal documentation, accept a new member, or formalize the departure of an old one. Ensure all the owners sign the papers otherwise the instrument will not be considered enforceable.
4. Get an employer identification number - contact the Internal Revenue Service via their website or fill out a printed-out form and ask them to assign one to you. This unique number will let you demonstrate the credibility of the business even if you are new to the industry - you will be allowed to employ individuals and apply for a loan.

Haven't found the template you're looking for? Take a look at the related forms below:

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