Bylaws & Operating Agreements
All corporations must create and maintain bylaws on an annual basis. Generally speaking, corporate bylaws should include:
Details about the board of directors
Duties and responsibilities of the board of directors and officers
Director and shareholder meeting information
LLCs are required to maintain an Operating Agreement which outlines:
Names of Members
Members rights and responsibilities
Percentage of Ownership
In both cases of the bylaws and the operating agreements, the documents are internal documents and are not required to be filed at the state level. However, as part of your due diligence to remain compliant you must have them. They may also be requested by banks, additional funding sources and potential investors.
Our document preparation service can assist with the preparation of your minutes and bylaws or operating agreement. All you have to do is fill in the blanks and we will take care of the rest.
Disclaimer: Creative Business Assistants, LLC does not offer any financial or legal advice.