Creating a New Mexico LLC Operating Agreement Template

Why You Should Create a New Mexico LLC Operating Agreement Template

Forming an LLC in New Mexico is an important step for any business owner looking to protect their assets and establish a professional presence in the state. An LLC Operating Agreement is an essential document that every LLC should have in place. It serves as a legally binding agreement between the members of the LLC and outlines the operating procedures and responsibilities of the LLC. An LLC Operating Agreement also outlines the LLC’s ownership structure, management procedures, and other important information.

What You Need to Know About New Mexico LLCs

In New Mexico, LLCs are governed by the New Mexico Revised Statutes § 53-19-1 et seq. LLCs must file Articles of Organization with the New Mexico Secretary of State and pay an initial filing fee of $50. The LLC must also pay an annual report fee of $50. LLCs must also appoint a registered agent in the state, who must maintain a physical address in New Mexico.

Creating a New Mexico LLC Operating Agreement Template

When creating a New Mexico LLC Operating Agreement template, you should consider the following:

• Management structure: This should include the roles and responsibilities of the LLC’s members and managers.
• Ownership structure: This should outline the number and type of members, and the percentage of ownership each member holds.
• Voting rights: This should outline the voting rights of the members and how decisions are made within the LLC.
• Profit and loss distribution: This should outline how profits and losses are divided among the members.
• Tax responsibilities: This should outline the tax responsibilities of the LLC and its members.
• Dissolution procedures: This should outline the procedures for dissolving the LLC.

Sample New Mexico LLC Operating Agreement Template

Sample 1

This New Mexico LLC Operating Agreement Template (the “Agreement”) is entered into this ___________ day of ___________, 20XX, by and between ___________ (“Member”) and ___________ (“Member”).

Sample 2

This New Mexico LLC Operating Agreement Template (the “Agreement”) is entered into this ___________ day of ___________, 20XX, by and between ___________ (“Member”) and ___________ (“Member”).

Sample 3

This New Mexico LLC Operating Agreement Template (the “Agreement”) is entered into this ___________ day of ___________, 20XX, by and between ___________ (“Member”) and ___________ (“Member”).

Conclusion

An LLC Operating Agreement is an important document that outlines the legal and financial parameters of an LLC. It serves to protect the interests of the members and ensure that the LLC operates in a legally compliant manner. When creating a New Mexico LLC Operating Agreement template, it is important to consider the management structure, ownership structure, voting rights, profit and loss distribution, tax responsibilities, and dissolution procedures.