Standard Llc Operating Agreement Ny

11.8. Electronic and facsimile signatures. Any signature page provided electronically or by fax (including, but not limited to .pdf transmission) is binding to the same extent as an original signature page, with respect to any agreement subject to or modification of the terms of this Agreement. Each party that provides such a signature page agrees to provide the other party with an original consideration at a later date if it wishes. NOW, THEREFORE, given the premises, the mutual agreements that are included and the other good and valuable counterparties whose arrival and suitability are recognized, the parties hereafter agree: 1.1.2. “Affiliated.” A person controlled directly or indirectly by one or more intermediaries, controlled or controlled by the designated person or placed under common control. To this end, the control of a person means that the power (whether exercised) to direct that person`s directives, operations or activities by or by ownership or the right to vote, or to direct that person`s voting method, or in accordance with the law, agreement or other means. No member is considered a partner of another member under this agreement or ownership in the company`s shares. The New York LLC Enterprise Agreement is a legal document in new York State, whether it is a member or a multi-member contract. The document will introduce rules and guidelines relating to the structure and purposes of the company, which will be defined by members and will be mandatory for all members, regardless of the size of the company.

From an internal point of view, the document describes acts such as the powers of each member, the Assembly, voting rights, administration, profit and loss, and even the provisions of a buy-back in the event that a member chooses to sell his interest on other important matters, which must be dealt with and agreed unanimously by all members. 6.5. Exclusive rights. Compensation and changes to expenses made or granted under this section 6.1 are not considered exclusively by other rights to which those seeking compensation or an expense auction may be entitled under an agreement or in some other way. The company has the right to acquire and maintain insurance on behalf of an compensated person. 3.1.6. Capital deposits. With the exception of the dissolution and liquidation of the company, or on the other hand, there is no agreement or time set for the return of a member`s capital contribution.

A member must deal exclusively with the company`s assets for the return of its capital contributions, and if the assets remaining after the payment or payment of the company`s debts and debts are not sufficient to return their deposits, the members have no recourse against the directors or directors because of such imperfections. 3.1.1. Initial interest and voting rights. As of the date of that person, anyone listed in Schedule A becomes a member and is listed as such in the company`s books and records. Each member is required to register the total amount of this capital investment on the date of this agreement, unless the directors or this agreement have decided otherwise. Each member was assigned interest in the name of this member in Schedule A. Each member`s capital contribution is provided in Appendix A.