Limited Liability Company
Operating Agreement
California
Asked on Nov 15, 2021
Draft an operating agreement in multi member LLC
Hi, a friend and I plan to register an LLC together. We would like to purchase rental units which would be owned by this LLC, and would like to have an operating agreement between us under this LLC. What do we need to know, and who should we talk to?
1 Attorney answer
Answer
Limited Liability Company
California
Answered 888 days ago
Paul S.
ContractsCounsel verified
Business Lawyer
Licensed in California, Ohio
Free Consultation
You will need to know what the equity split will be, and if it is 50/50, how will you manage tie votes. How will profits and losses be allocated? How will the LLC be managed? What happens if one of you wants to sell to a third party or leave the LLC?
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