A common type of business organization is a Limited Liability Company (LLC), which combines the tax advantages of a partnership with the liability protection of a corporation. In order to create an LLC in Oklahoma, the Secretary of State must receive the articles of formation and certain legal conditions must be met. What happens though if you wish to rename your LLC? Can you manage it? The quick answer is yes, but there are specific procedures you must adhere to.
You must submit an amendment to the articles of incorporation to the Secretary of State in Oklahoma if you want to rename your LLC. This amendment must be signed by an authorized representative of the company and should reflect the new name of your LLC. Additionally, there is a $50 filing fee for the amendment that you must pay.
Make sure the new name is available and not being used by another corporate entity in Oklahoma before filing the amendment. By performing a search on the Secretary of State’s online database, you can determine whether the name is available. You can move on with filing the amendment after making sure the name is available.
You might also need to amend other details in your operating paperwork, such as the registered agent, the business address, or the LLC’s members or management, in addition to changing the name. The operational documents of an LLC are made up of the operating agreement, the articles of formation, and any additional resolutions or agreements that have been approved by the management or members.
A legal document known as an operating agreement sets forth the policies and procedures guiding the functioning of an LLC. Although an operating agreement for an LLC is not required by Oklahoma law, it is strongly advised in order to prevent disagreements and miscommunications among the members or managers. The management structure, the distribution of profits and losses, the voting rights, the transfer of ownership, and the dissolution of the LLC are all topics that can be covered in an operating agreement.
Limited liability protection, flexible administration, pass-through taxation, and ease of establishment and upkeep are benefits of the LLC type of business structure. Small business owners, freelancers, and entrepreneurs who desire to safeguard their personal assets from business responsibilities and benefit from a partnership’s tax advantages frequently choose LLCs.
In Oklahoma, it is feasible to rename an LLC, but doing so necessitates filing an amendment to the articles of formation and paying a fee. Additionally, you must confirm that the new name is accessible and not in use by another organization. In order to regulate their operations and safeguard the interests of the members or management, LLCs should also have operational documents like an operating agreement. The many advantages that LLCs provide, such as liability protection, tax advantages, and flexibility, make them a popular option for business owners.
No, an operational agreement and a corporate resolution are not the same thing. An operational agreement is a legal document that describes the ownership and management practices of a limited liability company (LLC), whereas a corporate resolution is a formal document that documents the decisions made by a corporation’s board of directors or shareholders during a meeting.