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Updated over 5 years ago on . Most recent reply
Multi-member LLC operating agreement
Haven't found many materials that cover key clauses in multi-member LLC operating agreements. For equal % members, how do you determine contributions, distributions and exits? For instance if a member decides to take some cash out of the LLC down the road but the others don't how do you determine the new equity splits? TIA!!
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Eamonn McElroy
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#5 Tax, SDIRAs & Cost Segregation Contributor
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Eamonn McElroy#5 Tax, SDIRAs & Cost Segregation Contributor
#5 Tax, SDIRAs & Cost Segregation Contributor
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An attorney should draft the operating agreement for you. Although non-prorata distributions are permissible with a partnership, contributions and distributions should be done in harmony with the operating agreement, which is what all members ultimately agree to.