LLC Contract (Two Member, Managing Member-Managed)

The "LLC Contract (Two Member, Managing Member-Managed) under USA law" legal template is a comprehensive document that outlines the terms and conditions governing the establishment and operation of a limited liability company (LLC) in the United States. The template is specifically tailored for LLCs with two members and a managing member-managed structure.

The contract includes essential provisions that regulate the members' rights, obligations, and responsibilities within the LLC. It covers various aspects such as the company's purpose, capital contributions, profit and loss distribution, decision-making processes, management structure, and member withdrawal or dissociation.

Moreover, the template delves into specifying the roles and authority of the managing member, who is responsible for the day-to-day operations and decision-making of the LLC. It outlines their powers, limitations, and accountability to ensure smooth and efficient management of the company.

Other crucial clauses included in the template pertain to dispute resolution mechanisms, buyout provisions, non-compete and non-disclosure agreements, confidentiality, and indemnification of members against potential liabilities.

Overall, this legal template serves as a foundational document for LLCs with two members operating under the managing member-managed structure, providing a comprehensive framework for the establishment, governance, and management of the company while adhering to the relevant laws and regulations of the United States.