Choosing whether to start a business or invest in a franchise is a significant decision for any aspiring entrepreneur.
Details the members of the LLC and their ownership percentages.
Defines how new members can be admitted and how ownership can be transferred.
Establishes the voting rights of members, including the voting power of each member based on their ownership percentage or other agreed-upon criteria.
Defines the procedures for making decisions, including how votes are conducted and what constitutes a quorum.
Details the initial capital contributions of each member and any additional contributions that may be required.
Specifies how additional funds can be raised and the consequences for members who fail to make required contributions.