Limited Liability Company Operating Agreement

Writen by Alison Cole

An operating agreement is the code by which Limited Liability Companies (LLC) operate. In many states an operating agreement is not compulsory because in its absence the state law will apply by default. That may not be suitable situation for many LLCs, which require specific provisions for their management.

Though an operating agreement is not required to be in writing, it is prudent to have it properly documented and signed by all members, or by the sole member in the case of a single-member LLC. This will avoid confusion and misunderstandings, and also clarify the limited liability status.

An operating agreement basically covers the rights and responsibilities of members, how the company will be managed, and the manner in which the profits and losses are to be split. Due thought has to be given to such points, because they can have long-term impact on the LLC. Apart from routine details, the major points to be covered in an operating agreement include members' voting rights, profit sharing, management, meetings, accounts, and span of life.

The voting could be either 'per capita' (each member having one vote) or according to percentage of interest the members hold (if a member has 75% of the investment, he carries 75% of the votes). Whether the profits are to be allocated in the pattern of the interest held by each member or according to some other formula should be clearly stated. There is no stipulation in state laws that an LLC should hold annual meetings or draw up reports of accounts, but it is desirable to set out rules about these.

The question of what happens if a member dies or quits has to be considered. It is better that these eventualities are adequately covered with, for example, a buy-out scheme. A clear understanding about the manner in which the members can draw the profits allocated to them is desirable. It is also important to specify how the business will be managed and what responsibilities each member will have.

Software is available to help in drawing up an operating agreement, or a legal expert can be consulted.

Limited Liability Company provides detailed information about limited liability company, limited liability company act, limited liability company advantage, limited liability company form and more. Limited Liability Company is the sister site of Strategic Planning Info.

Small Business Opportunity A Simple Business With Huge Profit Potential

Writen by Sacha Tarkovsky

Imagine a business with that gives you the opportunity to make 100% or more per annum in net profit, that requires an hour a day, you can do from the comfort of your armchair and only needs a computer and an internet connection.

Furthermore, there is never a recession; you need no staff and a small amount of capital to start.

The business is.

Trading global energy markets. If you have never considered this as a business opportunity consider the following in addition to the advantages we have already listed:

1. Trading can be learned by anyone in a few weeks with the desire to learn and succeed.

2. The money in the business can be leveraged many times over to seek bigger gains.

3. There are opportunities all the time (consider the recent big bull market in crude oil as an example) and there is an energy market that is about to take off and could give bigger profits than crude and many traders made triple or quadruple digit gains here!

More of that in a moment lets first look at some questions you may already have thought of.

Can anyone really learn to trade these markets for profit?

The answer is yes, but of course everyone does not succeed. It depends on learning the basics and having the right mindset:

Trading a method and trading in a disciplined fashion. It's down to the individual but the opportunity is there for all.

Many traders have made huge sums trading energies and triple digit gains or more are achievable.

Is energy trading risky?

Of course there is risk, but you cannot have big rewards without risk. The way to deal with risk is to have strict money management criteria to keep losses small and run profits.

You can also use options to trade these markets that give you unlimited profit potential and limited risk making them a great way of trading.

What's the best method to trade?

You should use a mechanical trading system that simply follows market trends. Markets always trend and a mechanical system based on sound logic will catch the big long term trends (take the recent surge in crude oil) and milk them for profit.

There are many systems around that are good but one of the best is a breakout method (you can read about that in our other articles) and the logic is simple and easy to apply, you then need the discipline to follow it and apply sound money management – Do this and you have the potential for huge gains.

Are there opportunities at present?

Yes everyone is focused on crude oil but there is an energy market with even greater profit potential, natural gas.

The fact is, there always trends up and down and you can trade them all for profit.

Trading offers one of the few opportunities for ordinary people to start with small stakes and build real wealth quickly.

Not everyone who trades gets rich life is simply not like that, but with the right mindset a desire to succeed and some preparation, you have the opportunity to make huge profits in around an hour a day.

Take a look at the opportunity in greater detail and see for yourself.

For more FREE information

On trading energies for profit, please request our free guide with the outlook and profit opportunities and methods to trade these exciting markets Its available FREE and without any cost or obligation at:

http://www.wellingtoncr.com/new_energy_reports.html

Pressure Washing Of Paving Equipment And The Epa

Writen by Lance Winslow

Many pressure washing companies will be glad to take on additional work when a company calls them up to come and wash, but the days of cleaning asphalt compactors, steamrollers, paving equipment with diesel fuel are gone forever. If you are caught doing it the old fashioned way it's a $1,000 fines in the United States, fist offense and you pay for cleanup. The second offense is $10,000 and one year in jail and you pay for cleanup, in August of 1999 Newfoundland became the last place in North America to outlaw washing out asphalt dump trucks and paving equipment. It is now illegal every in the US and Canada to hose down paving equipment in this manner. This is because one gallon of Diesel fuel can pollute one million gallons of fresh drinking water about the allowable limits for safe potable water supplies.

There are, however ways to clean and still retain your affluent and then take that water for treatment. In our company we use a vacu-boom system; See the link for a picture of the containment device to collect the waste water:

http://www.truckwashguys.com/reclamation.shtml.

A typical paving machine such as this costs $250,000. It must be cleaned off at the end of each day with a thorough cleaning after a weeks work, if not it will build up and never come off, much the same as a Cement Truck. Dirty machines do not operate as effectively. Daily service for a medium sized paving unit should be in the neighborhood of $45 and we charge $85 for weekly thorough cleaning, but you will have to judge your market and competition before you set your prices. We do have quantity discounts for large companies with many units such as Penhall, JTL, Granite Construction, Tutor-Saliba and RPC, Inc. In your area you may have some of the same names. You might wish to find out who the bigger fish are and set your prices accordingly after you set your basic pricing structures based on supply and demand for services and competition in your market.

Small asphalt compactors are about a 15 - 20 minute job, once your crew gets good at it. At $125,000 average price, it is worth a quick blasting weekly and all the operators know this. Most paving companies also own a fleet of ten wheeler dump trucks. These also need cleaning on a regular accelerated schedule. We also recommend offering detailing services to these company for their dump trucks, which can be detailed on a rotating schedule with other dump trucks, 2 each week.

Keep your pressure washing business EPA compliant and be sure not to overlook paving companies, there are usually anywhere from three to a half a dozen such companies listed in most phone books, even in rural or suburban markets. Think about it.

Lance Winslow