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Montana LLC Operating Agreement Forms

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The Montana LLC operating agreement is a legal document that would be used by entities with multiple managing members or sole proprietors. The purpose for the document(s) are to establish specific aspects of the company (i.e. operational procedures, company policies, daily activity reporting, among other important aspects of the business). The State of Montana does not, in fact, require any business to file this document with the State. There are problems, however, by electing to by pass the completion of the document.

Without companies implementing the document, there will be no separation between the owner/members of a business and the business itself. This means that, if at any point the owner/member(s) are faced with any kind of litigation, the laws shall default to the State, the owner/member(s) will become liable for debts or claims against the business and their personal and financial assets will be at risk if the document is not in place. As well, the business will be ineligible for the tax benefits available if the document is implemented.

The owner/members must closely review the document. If the members are experiencing any issues in understanding the legalities of the document, the members may consider a consultation with an attorney for assistance.

Definition

Laws

Table of Contents

Types

Multi-Member – This document shall be used by companies that have more than one (1) member who would like to establish the necessary aspects of the business to keep the company running well and to acquire the protections needed for the contributing members.

Single-Member – For use by entities that shall be operated by a sole proprietor (single owner), so that they may establish both operations and member protections.

How to Form an LLC in Montana

The Montana Secretary of State will only accept LLC filings that have been submitted under a business name which is unique and distinguishable on their records. Therefore, you are encouraged to perform a  to ensure that the name hasn’t already been registered or reserved by another business.

Step 1 – Choose your Registered Agent

Your LLC will need to nominate a Registered Agent for the purpose of accepting service of process and annual state filings. In order to qualify as a Registered Agent, the agent must be one of the following:

  • Person with legal residence in the State
  • Domestic of Foreign entity in the business of serving as a Registered Agent
    • The business must be in good standing and maintain an address within the State

Step 2 – Complete the Application

Download and complete the Adobe PDF application specific to your LLC type:

Step 3 – Filing Fee

After completing your application, supply the filing fee by attaching a $70 check made payable to the ‘Secretary of State’. You may expedite your filing time by including an additional fee:

  • $20 – 24 hour processing
  • $100 – 1 hour processing

Send your complete filing package by mail to the below address and your application will be assessed by the Secretary of State.

Secretary of State, P.O. Box 202801, Helena, MT 59620-2801

Step 4 – Operating Agreement (optional)

Owners of both single-member and multi-member LLCs may organize their internal affairs by implementing an operating agreement. The document is used to establish dates for general meetings, create operating policies, and aid in the overall smooth operation of the company.

Step 5 – Employer Identification Number (EIN)

Most financial transactions made by the LLC will require the pre-acquisition of an Employer Identification Number (EIN). This identifier is issued by the Internal Revenue Service for the purpose of overseeing the financial activity of all registered entities. With an EIN obtained, the LLC will be able to conduct the following transactions:

  • Pay employees
  • Apply for loans
  • Acquire company credit cards

Apply for an EIN by completing the , or submit Form SS-4 by mail.

How to Write

Step 1 – Download the Document – Enter the name of the company at the top of the document.

Step 2 – The Agreement – Provide the date that the agreement would become effective dd/mm/yyyy format

  • Check the appropriate box
  • Submit required information
  • Single-Member – Enter the name of the company and the state of residence. Submit the owner’s name and business address
  • Multi-Member – Submit each member’s name and address

Step 3 – Name and Principal Place of Business –

  • Submit the registered name of the company
  • Provide the business address
  • The city of the physical location of the business

Review any remaining information and submit any required information in the lines provided.

Formation –

  • Enter the date of formation (dd/mm/yy)
  • Read the information contained in the following titles:
  • Purpose
  • Term

Member Capitol Contributions –

  • Check applicable box
  • Single-Members – Read the information
  • Multi-Members – Submit the members’ names and contribution amounts

Distributions – Members must read the information contained in the following section:

  • Check the appropriate box
  • Single-Members – Read the information
  • Multi-Members – Provide the names and Percentage Interest for all members
  • Members may continue by reviewing the remaining information

Step 4 – Books, Records and Tax Returns –

  • Check the box that applies
  • Read the information

Continue by reviewing the following titles:

  • Bank Accounts
  • Management of the Company
  • Select and check the applicable box
  • Single-Member – Read the information
  • Multi-Members – Review the information and continue
  • Submit the appropriate maximums in each of the lines provided

Step 5 – Titled Sections – Check the box, if applicable, and read the following:

  • Meetings of Members – Provide an annual member meeting date
  • Assignment of Interests
  • Ownership of Company Property (Single-Member)
  • Right of First Refusal
  • Admission of New Members
  • Withdrawal Events
  • Dissolution and Liquidation – Check the appropriate box and read the information
  • Representations of Members
  • Certificates Evidencing Membership (Multi-Member) Provide a company name, submit an effective date (dd/mm/yyyy)
  • Notices
  • Arbitration
  • Amendments
  • Indemnification (Owners/Sole Proprietors)
  • Miscellaneous

Step 6 – Signatures –

  • Date the execution of the document
  • Submit the signature of a company representative
  • Members must provide signatures

Once the document is complete, all members must be provided individual copies for their records.



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