Company Contract (Multi-Member, Manager-Managed) (Simple) (Texas)
About this template
The "Company Contract (Multi-Member, Manager-Managed) (Simple) (Texas) under USA law" is a legal document that establishes the guidelines and framework for a business entity operating as a limited liability company (LLC) in the state of Texas, under the laws of the United States. This template specifically caters to LLCs with multiple members (also known as owners or partners) and follows a manager-managed structure where one or more appointed managers handle the day-to-day operations and decision-making of the LLC.
The purpose of this contract is to outline the rights, responsibilities, and obligations of all members involved in the LLC, as well as to establish clear guidelines for key aspects such as management roles, capital contributions, profit/loss distribution, voting rights, membership transfers, dispute resolution, and the dissolution process.
The template ensures compliance with the legal requirements and regulations set forth by the state of Texas and reflects the general principles of LLC law in the United States. It serves as a foundational document that helps ensure the smooth functioning of the LLC, reduces potential conflicts among members, and provides a legal framework for resolving any issues that may arise during the course of the business operation.
It is important to note that although this template is labeled as "Simple," it still covers the essential provisions necessary for establishing and operating an LLC in Texas. However, for companies with complex operating structures or specific requirements, it may be advisable to seek legal counsel to ensure the customized provisions adequately address their needs and comply with all applicable laws and regulations.