Delaware Llc Bylaws
Article 1: Formation
1.1 Formation: The undersigned hereby form a limited liability company ("Company") under the Delaware Limited Liability Company Act.
1.2 Name: The name of the Company shall be [YOUR COMPANY NAME] LLC.
1.3 Registered Office: The registered office of the Company in the State of Delaware shall be located at [YOUR COMPANY ADDRESS], or such other place as the Manager may from time to time determine.
Article 2: Purpose
2.1 Purpose: The purpose of the Company shall be to engage in any lawful business or activity for which limited liability companies may be formed under the laws of the State of Delaware.
Article 3: Members
3.1 Initial Members: The initial Members of the Company shall be [Names of Initial Members] (the "Initial Members").
3.2 Admission of New Members: New Members may be admitted to the Company upon the unanimous consent of the existing Members.
Article 4: Management
4.1 Management: The Company shall be managed by [Manager/Managers]. The Manager(s) shall have full authority to manage the business and affairs of the Company.
4.2 Manager Appointment: The Manager(s) shall be appointed by a majority vote of the Members.
Article 5: Capital Contributions
5.1 Initial Contributions: The Initial Members shall contribute the following amounts to the capital of the Company:
Member 1: $50,000 in cash
Member 2: Equipment with a fair market value of $30,000
Member 3: Intellectual property rights valued at $20,000
5.2 Additional Contributions: Additional contributions may be required from Members as determined by the Manager(s).
Article 6: Distributions
6.1 Distributions: Distributions of profits and losses shall be made to the Members by their respective ownership interests in the Company.
Article 7: Voting
7.1 Voting: Each Member shall be entitled to one vote on all matters requiring the vote of the Members.
7.2 Unanimous Consent: Certain actions may require the unanimous consent of all Members.
Article 8: Dissolution
8.1 Dissolution: The Company may be dissolved upon the vote of two-thirds (2/3) of the Members.
8.2 Liquidation: Upon dissolution, the assets of the Company shall be liquidated and distributed to the Members by their respective ownership interests.
Article 9: Amendments
9.1 Amendments: These Operating Agreements may be amended by the vote of two-thirds (2/3) of the Members.
Article 10: Miscellaneous
11.1 Severability: If any provision of this Operating Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
11.2 Entire Agreement: This Operating Agreement constitutes the entire agreement between the Members concerning the subject matter hereof and supersedes all prior agreements and understandings.
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