Crucial Provisions for a Comprehensive LLC Operating Agreement

Рет қаралды 16,517

Clint Coons Esq. | Real Estate Asset Protection

Күн бұрын

What provisions do you need to have for every LLC operating agreement? In this comprehensive video, I will delve deep into the seven critical provisions for every LLC operating agreement you need to create a solid foundation for your business.
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Grab your copy of 7 critical provisions for your operating agreement.
📋 docs.google.com/document/d/1N...
Whether you're already an LLC owner or planning to form one, ensuring that your operating agreement includes the proper provisions is crucial. LLC operating agreements are the backbone of every business, providing the guidelines and structure for smooth operation.
🔑 Key Insight "It's so simple to protect yourself here." 8:49
Without a well-drafted agreement, things can quickly become chaotic and complicated. In this highly informative video, we will cover the critical essential provisions for a properly formed LLC operating agreement.
Thank you for taking the time to watch and learn from our video. We hope this information proves invaluable in establishing a robust LLC Operating Agreement.
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Show Notes:
0:00 Intro
0:25 Preview
1:04 Capital Contributions
4:09 Management Structure
4:57 Distribution
6:37 Operating Procedure
7:19 Indemnification and Limitation of Liability Clause
8:53 Limitation of Liability
9:50 Dissolution
11:29 Charging Order
14:16 Outro
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ABOUT CLINT COONS
Clint Coons, Esq. is one of the founding partners of Anderson Law Group, Clint has grown his legal and tax firm to over 400 employees by assisting real estate investors with creating and implementing solid entity structuring plans. His success in these regards is in large part due to his personal investing experience. A successful attorney, real estate investor, and speaker, Clint has used his innovative and dynamic strategies coupled with knowledge borne from experience to help thousands of people save millions of dollars and build real wealth.
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#llc #operatingagreement #clintcoons

Пікірлер: 65

@welovefootball2026 11 ай бұрын

I don't know how it's possible that i discovered your channel but in 2023 when it's been there for more than 10years. Thank you very much for the beautiful work. THE MOST BEAUTIFUL PART OF YOUR TEACHINGS IS THE WARNINGS AND GUARDS YOU TELL YOUR VIEWERS.....I LOVE IT MENNN...I LOVE THOSE PARTS BECAUSE IT PROVES YOU'RE GENUINELY TRYING TO HELP PEOPLE and not just making videos for views. You want people to succeed. And when people don't understand, you try as much as possible to give further insights through the comment section.

@ClintCoons 11 ай бұрын

Thank you.

@organizer14 5 ай бұрын

Wow, so generous of you to share your brilliant contribution with your students! Many thanks for your unique contributions to the industry! You are highly respected!!! Thanks again!!!

@ClintCoons 5 ай бұрын

Thanks

@organizer14 10 ай бұрын

Thank you very much! So considerate of you!

@alexlurye1815 11 ай бұрын

Great advice for operating agreements! Good job boss!

@BigHorseman 11 ай бұрын

Cint, thanks so much for this. I'm re-stating a couple of Agreements and this is helpful.

@F_A_Maroon 11 ай бұрын

Absolute gold. Information worth AU. THX Sir.

@coastalcontractingllc2409 2 ай бұрын

Your suggestions for these provisions are very useful. Thank you so much for sharing these Legal GEMS! Your explanation on each of these was very helpful to understand the need. Then you have followed that up with a link to your Google doc. with the legal wording so we can add as needed to our unique LLC's. You are the best Attorney on KZfaq and wanted to say THANK YOU so much for all that you do!

@ClintCoons 2 ай бұрын

Thanks

@Mudbug2000 11 ай бұрын

Thanks for all info!

@timluna8173 11 ай бұрын

Thank you for the clarification and those clauses.

@ClintCoons 11 ай бұрын

Glad it was helpful!

@adjusterneal1439 10 ай бұрын

Thanks so much for this content. This was definitely educational and needed! Great presentation!!

@ClintCoons 10 ай бұрын

You're very welcome!

@Evangelionism 5 ай бұрын

**Adjusts tie** Thanks Clint! 😎

@1_South_Business_Services 11 ай бұрын

Thank you for all ABA shares to help us do better in businesses❤

@ClintCoons 11 ай бұрын

You bet!

@geralddekoff609 9 ай бұрын

Thank you

@jtoneal3344 6 ай бұрын

Superb guidance sir. Well done.

@ClintCoons 6 ай бұрын

thanks

@zacha157 11 ай бұрын

Clint, super helpful along with the previous vid on why you need an OA. Could you do a video on unique or key provisions you need in an OA if your member is a qualified ret. plan like a SDIRA or a Solo401K?

@ClintCoons 11 ай бұрын

Yup. Thanks for the idea.

@csq530 2 ай бұрын

GREAT CONTENT!!!!

@ClintCoons 2 ай бұрын

Thanks

@coastalcontractingllc2409 2 ай бұрын

Thanks!

@ClintCoons 2 ай бұрын

Thanks for the super thanks!

@jackprick9797 3 күн бұрын

Clint, in the case that one of the llc members decides to liquidate their equity and they are fully vested to sell 100% of their equity, how and where in the operating agreement would you indicate that for any available shares, the majority equity owner has first right to purchase those shares or to equally divide those shares amongst remaining shareholders or founders?

@alvinchambers3014 5 ай бұрын

Please help i cannot find your link on this subject matter. Also this was a very good video. You reminded me of an attorney who setup my 1st company. Once everything was completed he sat down with me in his offices and showed me fhe Indemnification cause l. That he did for my company many years ago.

@seanmclaughlin7415 11 ай бұрын

This is great info, Clint! Thank you for doing this! One question, is this also for single member LLC’s? Also, I see many blank lines wishing your Operating Agreement document. Not sure what I am using to fill those in. Would you mind guiding us with this?

@ClintCoons 11 ай бұрын

If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

@seanmclaughlin7415 11 ай бұрын

@@ClintCoons Thanks Clint! I think I will take you up on your offer!!

@theguy2605 6 ай бұрын

Youre the best, any recommendations on an operating agreement for arbitrage ? How much would you charge me to make one

@ClintCoons 6 ай бұрын

If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

@HopeProphecy 3 ай бұрын

Hi Clint, great info. I am a bit confused on your 3rd clause. Isn't it true that if you have regularly scheduled distributions in your operating agreement, then a potential creditor could argue that they are entitled to those regular distributions?

@ClintCoons 3 ай бұрын

Correct. You do not want to take regular distributions.

@HopeProphecy 3 ай бұрын

@@ClintCoons thanks

@El_mallik 11 ай бұрын

Thank you for doing this! I have my operating company in California that’s owned by a holding company in New Mexico. Can I take money from operating company directly or is it supposed to flow through holding company?

@bergencounty6602 11 ай бұрын

May I ask why you chose New Mexico?

@headlibrarian1996 11 ай бұрын

If you have no direct ownership of the operating company you must first transfer funds to the holding company, then to yourself. If you transfer directly to yourself you open the door for a plaintiff's attorney to argue that they should be allowed to sue the holding company directly, putting everything else in that holding company at risk.

@headlibrarian1996 11 ай бұрын

@@bergencounty6602 New Mexico is another "no public listing of members and managers" jurisdiction, like Wyoming is. I assume that's why the OP is using it.

@headlibrarian1996 11 ай бұрын

Doesn't filing Articles of Dissolution (or the corporate equivalent) start running the clock out on not yet filed claims?

@ClintCoons 11 ай бұрын

It would depend on the type of claim and statutory of limitations.

@mikejames9035 11 ай бұрын

Question: If you live in a city that you have to file a business city license,... and they want to know the owner or an agent's name with a copy of their driver license. How would you set this up for anonymity? I'm not sure if the city keeps a public database for anyone to publicly sees who is the owner of the business license. Assuming there is already a wyoming llc used for privacy for filing the business license in the city.

@ClintCoons 11 ай бұрын

In that situation you my have to disclose yourself as an officer of the LLC. There isn’t any way around it when it comes to business licenses.

@mikejames9035 11 ай бұрын

@@ClintCoons Thanks for response. I might need to find another place to set this business up

@organizer14 5 ай бұрын

Cannot find the link you refer to in this video. Where is the link? Thanks very much!!!

@ClintCoons 5 ай бұрын

My pleasure!

@frankmartinez2987 11 ай бұрын

Thank you for this information. What if One wanted a provision prohibiting dissolution altogether? What would the strongest, while still enforceable, form of such a provision look like?

@ClintCoons 11 ай бұрын

Why would you want to use such a provision? I am not sure if it is enforceable.

@frankmartinez2987 11 ай бұрын

@@ClintCoons Setting aside enforceability concerns, there can be high aesthetic value in the creation of something you can be certain will continue in perpetuity even if everyone else abandons said something.

@user-wg5ov4fg6n 6 ай бұрын

Question: If you have a provision that the Manager alone at his discretion must authorize all distributions, but the charging order is against the manager, do you now have a situation where he would be forced to authorize a distribution?

@ClintCoons 5 ай бұрын

Not at all.

@DimitriZen 8 ай бұрын

should an operating agreement be recorded? What if it includes a TOD provision?

@ClintCoons 8 ай бұрын

No you do not record your operating agreement even if it has a TOD. It is private.

@85OGeezy 3 ай бұрын

How much does your firm charge to draft an operating agreement for a single member-managed LLC (business)?

@ClintCoons 3 ай бұрын

It would depend on the type of LLC operating agreement. If you would like a FREE 30-minute consultation, you can request one here - aba.link/30minSession

@Hans_Magnusson 11 ай бұрын

Okay I am not going to be a lawyer I know enough to organize that I will do that when I have a need Right now I don’t even have a pillow to put in a house

@shamroccofficial2885 5 ай бұрын

As much as this video deserves and needs more views, a part of me is glad it doesn't. If every LLC entity implemented your wisdom, the system would have more reason to restrict some of those abilities.

@ClintCoons 5 ай бұрын

Right. NPR did an episode on anonymous LLCs and used one of my videos to explain how "unscrupulous landlords" hide their identities.