Does Georgia Require an Operating Agreement for LLCs?

Like the majority of states, Georgia does not mandate that LLCs have an operating agreement. However, having one in place is strongly advised for LLCs. An operating agreement is a legal contract that describes who owns the LLC, how it is managed, and how it conducts business. It effectively acts as a contract between the LLC’s members and serves to prevent future misunderstandings and conflicts.

No, a single member LLC in Georgia is not necessary to have an operating agreement. However, establishing an operating agreement for a single member LLC is strongly advised, just like with multi-member LLCs. The management structure and operational procedures of the LLC can nevertheless be made clearer by an operating agreement, even if there is only one member.

Operating agreements are preserved with the LLC’s internal records rather than being filed with the state of Georgia. All LLC members must sign the operating agreement, which should be revised as needed. A copy of the operating agreement should be kept with the LLC’s other crucial papers. How much does a business license in Georgia cost? Georgia’s business license fees vary depending on the county and type of enterprise. The price often falls between $75 and $400. For detailed information on the price of a business license, it is advised to contact the county where the business is located.

An organizer in Georgia is the one who submitted the LLC’s organizational documents to the state. Any ownership or management rights in the LLC are not necessarily held by the organizer. In order to dissolve an LLC in Georgia, the members of the LLC must change the articles of organization to take the organizer’s name out. The Secretary of State for Georgia must receive a copy of this amendment. It is advised to speak with a lawyer to make sure the correct steps are taken.