A Georgia Multi-Member LLC Operating Agreement is a widely used legal instrument signed by all the owners of the company to confirm the members do not bear personal responsibility for the debts of the organization and to decide in advance how the business will operate and how the internal issues and disputes will be resolved. In case you are looking for the surest way to avoid disagreements between several board members no matter what the situation is, it is advised to have a set of internal bylaws that explain how to act in foreseen and unforeseen circumstances - implementing a new business idea or unexpected passing of one of the board members.
A Georgia Multi-Member LLC Operating Agreement template can be downloaded below - personalize it to be sure the particular qualities of your entity are taken into account. Usually, the operating agreement lists the owners and their rights and duties, records the provisions regarding the distribution of shares and revenue, indicates the voting rights of the members, and explains how to modify the internal documentation of the company.
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