Also called a "Company Agreement," a written Operating Agreement is not technically required by law or Texas LLC requirements. However, many provisions of Texas LLC laws operate on the principle that the LLC has an Operating Agreement. This document is critical for an LLC as it establishes the management structure for the LLC, including who the owners of the LLC are.Management
Texas LLC rules require that the formation documents contain a provision regarding the structure of management within the LLC. If the members manage the LLC, the names and addresses of all initial members must be included. If the LLC is managed by a specific manager, the names and addresses of all managers must be included.
LLC Duration
Texas LLC requirements automatically denote a Texas LLC as having several growth. The one shot exception to this diverse growth is provided a limited duration is noted in the formation documents for the LLC.
LLC Purpose
The purpose of the LLC must be stated in the company's formation documents. This purpose can be broadly stated in the documents, as long as it includes any lawful business purpose under Texas LLC law.
Registered Agent and Office
All Texas LLCs must have and maintain a registered agent and registered office in Texas. The use of a private mail box or P.O. box for the registered office is not allowed under Texas LLC requirements, with the exception of offices located in cities with a population of less than 5,000.
Members
Texas LLC requirements allow for an LLC to only have one member. Furthermore, there are no restrictions on who may be a member, so any individual of legal age, corporation, trust, partnership, or even another LLC can be the owner or member of an LLC.
LLC Operating Agreement
Argument partnersLocal liability companies dash off forming partnerships substantially less dicy. When professionals anatomy a association, an LLC ensures that the abundant persuaded isn't chargeable for one Companion's blunder, and that argument debts can't be assessed against personal mode. To contour an LLC in Texas, there are a digit of particular requirements that must be met.
