As of that date, members, through their agent, have created the limited liability company, as covered by Utah state laws. Taking into account the conditions set out in it, they therefore agree that the Utah Enterprise Agreement with several LLC members is a legal document that must be used specifically by companies with more than one (1) executive member contributing. Members would use the document to agree on various aspects of business policies and procedures, among others. Note that these enterprise agreements are designed as a reference and should be verified by a lawyer. Once you have entered into your operating contract, you no longer need to submit it to your status. Keep it for your recordings and give copies to your LLC members. Laws – Title 48, Chapter 3A (Utah Revised Uniforme Limited Liability Company Act) This OPERATING ACCORD becomes into effect at 20 and about: 1.3. The purpose of the company is to engage in any lawful act or activity for which a limited liability company may be incorporated within the State of Utah. 1.1 Education. Effective C__ Members agree to submit to the competent authority of the State of Utah, responsible for the processing and maintenance of these records, all documents necessary for the creation of the company. The rights and obligations of the parties are provided for by law, unless expressly stated to the contrary. Whether you set up a single or multi-person LLC, your enterprise agreement should address all of the following topics. Some of these provisions will not have much influence on the actual operations of a single-headed LLC, but they remain important for reasons of legal formalities.
8.5.2 If members have not assessed the interests of the deceased member in the previous two years, the value of each member`s shares in the corporation at the time of death is determined first by mutual agreement between the surviving members and the personal representative of the deceased member`s estate.