Draft LLC Operating Agreement in California for Finance Business
How much does it cost to draft a LLC Operating Agreement in California? Below are summary details about a user that needed to draft an
LLC Operating Agreement
in California for Finance Business.
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The user received 2 bids to draft the LLC Operating Agreement at a pricing range of $400 - $750 on a flat fee.
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I understand that for a LLC for rental property, liabilty protection, an operating agreement is good. However, once this is completed, what do you do with the agreement to ensure your protected? Does it get filed with the State of the LLC or is it something that can just be filed away at home. It seems it would need to be filed or someone could just change the agreement at home dependent on any situation that came up to protect themselves better which seem like fraud.
T. Phillip B.
Answered Mar 3, 2021
The operating agreement is just one of the many things you need to do to show that you are treating this LLC as separate from you personally. With that being said, you will put the operating agreement into a records books with other things like your articles of organization, other government filings, membership ledger, etc. Then keep it at the primary place of business.
I'm forming an LLC in order to manage some money investing in the stock market, (Friends and family only) I will be charging a percentage fee on the profits. Can an LLC be formed to invest in stocks and charge a performance fee? Thank you.
Answered Mar 3, 2021
Generally, if you are "advising others regarding investment decisions for compensation" you are regulated by the SEC as an investment advisor and subject to oversight and registration with the SEC. There are exemptions, for example, a "Family Office" is not required to register. However, all investors and owners in a Family Office must be actual family and friends would be excluded.