California Single Member Llc Operating Agreement (Page 2 of 6) in pdf

California Single Member Llc Operating Agreement Page 2

Company in the State of California is c/o [RESIDENT AGENT NAME AND

ADDRESS].

2.4

Term. The term of the Company shall commence on [DATE] and shall

have perpetual existence unless it shall be dissolved and its affairs shall have been wound

up as provided in Section 9 (Dissolution and Winding Up of Business).

2.5

Qualification in Other Jurisdictions. The Company may register in any

other jurisdiction upon the approval of the Member.

2.6

Bank Accounts. All funds of the Company shall be deposited in one or

more accounts with one or more recognized financial institutions in the name of the

Company, at such locations as shall be determined by Member. Withdrawal from such

accounts shall require the signature of such person or persons as Member may designate.

Accounts and Records.

3.1

Records and Accounting; Reports; Fiscal Affairs. Proper and complete

records and books of accounting of the business of the Company, including a list of

names, addresses and interests of all Members, shall be maintained at the Company’s

principal place of business.

The books and records of the Company shall be kept on cash basis of accounting,

and the cash basis of accounting shall be followed by the Company for federal income

tax purposes.

3.2

Fiscal Year End. The fiscal year end shall be [December 31].

3.3

Keeper of the Books. At all times during the term of existence of the

Company [NAME], in [his/her] capacity as [Manager/Member], shall keep or cause to be

kept the books of accounts referred to in Section 3.1 (Records and Accounting), and the

following:

(a)

A current list of the full name and last known business or residence

address of each Member

(b)

A copy of the Articles of Organization, as amended;

(c)

Executed counterparts of this Agreement, as amended;

(d)

Any powers of attorney under which the Company takes action;

(e)

Copies of the Company's federal, state, and local income tax or

information returns and reports, if any, for the six (6) most recent taxable years;

(f)

Financial statements of the Company for the six (6) most recent fiscal

years; and

California Single Member Llc Operating Agreement Page 2

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