LLC Operating Agreement in Oklahoma
An operating agreement is a legal document that describes the ownership structure, members’ rights, responsibilities, and key operational procedures of a Limited Liability Company (LLC) established in the state of Oklahoma.
Why Have an Operating Agreement
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Importance: An operating agreement details who owns the business, member duties, and financial relationships, ensuring smoother operations and preventing disputes.
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Management Inclusion: Essential to include information about the company’s management even for a few members to clarify responsibilities and roles.
Operating Agreement Guidelines
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An Oklahoma LLC operating agreement is an internal document approved by all members, providing guidelines for internal operations and membership details.
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It may override default state rules and require unanimous member approval for changes, which could affect profit and loss allocations.
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Address processes for selecting managers and handling circumstances where a member dies or becomes disabled.
Forming an LLC in Oklahoma
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Articles of Organization: Submit to the Oklahoma Secretary of State at a cost of $100 to establish your Oklahoma Limited Liability Company.
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Processing time is typically 3-5 business days, with expedited processing available in 24 hours.
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Non-residents can form an LLC in Oklahoma as long as state requirements are met, and only one member is needed for LLC formation.
Registered Agent in Oklahoma
A Registered Agent in Oklahoma receives legal documents and correspondence on behalf of an LLC, ensuring that all official notices are received.
Compliance with State Law
The operation of the Company shall be governed by the terms of this Agreement and the applicable laws of the State of Oklahoma relating to the formation, operation, and taxation of an LLC.
To the extent permitted by the Statutes, the terms and provisions of this Agreement shall control in the event there is a conflict between the Statutes and this Agreement.