LLC Membership Agreement Template

This llc membership agreement template has 4 pages and is a MS Word file type listed under our legal agreements documents.

Sample of our llc membership agreement template:

MEMBERSHIP AGREEMENT OF [LLC NAME] This Membership Agreement (the "Agreement") is effective [DATE], BETWEEN: [YOUR COMPANY NAME] (the "Company"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [MEMBER NAME] (the "Member"), an individual/entity with its principal place of residence/business located at: [COMPLETE ADDRESS] WHEREAS, the LLC is a limited liability company duly organized under the laws of the [State/Province] of [STATE/PROVINCE]; WHEREAS, the Member desires to become a member of the LLC and agrees to be bound by the terms and conditions set forth in this Agreement; NOW, THEREFORE, in consideration of the mutual covenants and promises contained herein, the Parties hereto agree as follows: ADMISSION OF MEMBER Membership Interest: The LLC hereby admits the Member as a member of the LLC with a [NUMBER]% membership interest, effective as of the date of this Agreement. Capital Contribution: The Member agrees to contribute the sum of [AMOUNT] as an initial capital contribution to the LLC, which shall be paid on or before [DATE]. Additional Contributions: The Member shall not be required to make any additional capital contributions unless otherwise agreed upon in writing by the Member and the LLC. RIGHTS AND DUTIES OF MEMBER 2.1 Voting Rights: The Member shall have voting rights proportional to their membership interest in the LLC. The voting rights and procedures shall be governed by the LLC's Operating Agreement. 2.2 Management of LLC: The management of the LLC shall be vested in [MANAGERS/MEMBERS] as provided in the LLC's Operating Agreement. The Member shall have the right to participate in the management of the LLC in accordance with the terms of the Operating Agreement. 2.3 Distributions: The Member shall be entitled to receive distributions from the LLC as determined by the LLC's Operating Agreement and in proportion to their membership interest. 2.4 Transfer of Interest: The Member may transfer their membership interest in the LLC only in accordance with the terms set forth in the LLC's Operating Agreement and subject to the approval of the other members, if applicable. REPRESENTATIONS AND WARRANTIES 3.1 Authority: The Member represents and warrants that they have the legal capacity and authority to enter into this Agreement and to perform their obligations hereunder. 3.2 Compliance with Laws: The Member agrees to comply with all applicable federal, state, and local laws and regulations in connection with their membership in the LLC. INDEMNIFICATION 4