LLC Operating Contract (Commercial Property, Managing Member-Managed, Simple) (New York)

The LLC Operating Contract is a legal template designed specifically for a Limited Liability Company (LLC) operating in the state of New York, governed by the laws of the United States of America. This particular template focuses on LLCs that own and manage commercial properties with a managing member-managed structure.

The operating contract outlines the terms and conditions under which the LLC will be governed and operated. It provides a comprehensive framework for the internal management and decision-making processes within the company, addressing important aspects such as member rights and responsibilities, profit distribution, decision-making procedures, and dispute resolution mechanisms.

Being characterized as "simple," the template is designed to be straightforward and easily understandable, making it suitable for LLCs with uncomplicated structures and operations. However, it still covers essential provisions to safeguard the interests of all members and ensure the smooth functioning of the LLC.

By utilizing this legal template, LLC owners in New York can establish a clear and legally binding agreement that governs their commercial property management endeavors in accordance with the state and federal laws of the United States.