MODEL COMPANY AGREEMENTS FOR SIMPLE LLCS

Texas Secretary of State reports that 84% of certificates of formation filed for domestic profit driven entities in 2016, were limited liability companies (LLC). This growth may be attributed to LLC's specific benefit of providing greater protection, control and flexibility for its owners. LLC members can establish desired provisions within the company agreement concerning management structures, economic issues and governance. The document below provides an explanation of the structure and rationale for LLC company agreement provisions and two model forms for multi-member LLCs.

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