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Canadian LLC Operating Agreement

Company Details
Membership Classes
Membership Detail
Management
Administration
Sign/Witness
Print/Download

Membership Details

Members

What type of entity is this Member?

Individual Business Entity

Name:

Address: e.g. Street, City, Province, Postal Code

What class does this Member belong to?

Remove

Add another Member

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Capital Contributions

Member #1

Describe all contributions made by this Member:

What is the total value of this Member's contributions?

$

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Additional Contributions

Could additional contributions be required in future?

Yes No

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Admitting New Members

Can new Members be added?

Yes No

What is the voting requirement to admit a new Member?

Unanimous Majority

Are there additional conditions to admitting new Members?

Yes No

Describe additional conditions:

(e.g. New Members must be fully qualified and licensed to work.)

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Withdrawal of a Member

Can a Member voluntarily withdraw from your Company?

Yes No

What is the initial period of prohibition on withdrawal?

Do not specify 1 month 3 month 6 month 1 year

What is the notice period required for withdrawal?

Do not specify 1 month 3 month 6 month 1 year

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Member Meetings

When will Members hold regular meetings?

Weekly Monthly Quartely Annually Only as required

How will Member votes be determined?

Based on ownership share Equal vote for each Member

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Frequently Asked Questions

What are capital contributions?

What are capital contributions?

Capital contributions could include cash, resources, or services. Provide an accurate description including quantities and amounts

What should I consider when adding new Members?

What should I consider when adding new Members?

When you admit new Members it is important that the rights of all your Members are protected. Adding a new Member can significantly shift the balance of power in your organization, potentially causing your Company to move in a direction that was not intended in the original vision for your Company.

Why are there restrictions on Members leaving?

Why are there restrictions on Members leaving?

The success of your LLC depends on the participation of all your Members. The LLC as well as the individual Members can suffer a significant loss in the event of the unanticipated departure of one of your Members, especially in the initial startup phase of your Company.

What should I consider when adding new Members?

What should I consider when adding new Members?

When you admit new Members it is important that the rights of all your Members are protected. Adding a new Member can significantly shift the balance of power in your organization, potentially causing your Company to move in a direction that was not intended in the original vision for your Company.

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