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Single Owner LLC Operating Agreement

Single Owner LLC Operating Agreement Template for New Zealand

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Key Requirements PROMPT example:

Single Owner LLC Operating Agreement

"I need a Single Owner LLC Operating Agreement for my new consulting business in New Zealand, which will begin operations on March 1, 2025, with initial capital of NZD 50,000 and potential plans to hire employees within the first year."

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Document background
The Single Owner LLC Operating Agreement is a foundational document required when establishing a single-member Limited Liability Company in New Zealand. This document is essential for entrepreneurs and business owners who wish to operate under a limited liability structure while maintaining sole ownership. It complies with the Companies Act 1993 and other relevant New Zealand legislation, providing a comprehensive framework for company governance, management, and operations. The agreement typically includes provisions for capital contributions, profit distributions, management structure, succession planning, and dissolution procedures. It serves as both a legal requirement and a practical guide for business operations, protecting the owner's interests while ensuring proper corporate governance and compliance with New Zealand law.
Suggested Sections

1. Parties: Identifies the single member/owner and the LLC entity

2. Background: Outlines the context of forming the LLC and its intended purpose

3. Definitions: Defines key terms used throughout the agreement

4. Formation and Name: Details of company formation, registered name, and registration requirements

5. Purpose and Powers: States the LLC's business purpose and its operational powers

6. Capital Contributions: Specifies initial and any additional capital contributions by the owner

7. Management Structure: Outlines management responsibilities and decision-making authority

8. Financial Affairs: Covers accounting practices, fiscal year, banking, and financial records

9. Distributions: Details how and when profit distributions will be made

10. Tax Matters: Addresses tax elections, returns, and compliance requirements

11. Transfer Restrictions: Rules regarding transfer of ownership interests

12. Dissolution: Procedures for winding up the LLC

13. General Provisions: Standard clauses including governing law, amendments, and notices

Optional Sections

1. Intellectual Property: Required when the LLC owns or develops significant IP assets

2. Employment Matters: Include when the LLC plans to hire employees

3. Insurance Requirements: Specific insurance obligations beyond standard coverage

4. Succession Planning: Detailed provisions for business continuation upon owner's death or incapacity

5. Confidentiality: Additional confidentiality provisions beyond standard terms

6. Dispute Resolution: Specific procedures for handling disputes, including mediation or arbitration

7. Foreign Operations: Include if business will operate internationally

8. Environmental Compliance: Required for businesses with environmental impacts

Suggested Schedules

1. Schedule 1: Company Details: Contains registered office, business address, and registration details

2. Schedule 2: Initial Capital Contribution: Details of initial capital investment and asset valuations

3. Schedule 3: Business Plan: Initial business plan and strategic objectives

4. Schedule 4: Management Procedures: Detailed operational procedures and policies

5. Schedule 5: Asset Register: List of company assets and their status

6. Appendix A: Specimen Signatures: Authorized signatures for banking and legal documents

7. Appendix B: Required Forms: Standard forms for company administration

8. Appendix C: Compliance Checklist: List of regulatory compliance requirements

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Professional Services

Retail

Technology

Construction

Real Estate

Consulting

Healthcare

Manufacturing

E-commerce

Creative Industries

Agriculture

Hospitality

Relevant Teams

Legal

Finance

Compliance

Corporate Governance

Operations

Administration

Risk Management

Executive Leadership

Relevant Roles

Business Owner

Chief Executive Officer

Managing Director

Company Director

Entrepreneur

Small Business Owner

Corporate Lawyer

Legal Counsel

Business Advisor

Accountant

Chief Financial Officer

Company Secretary

Compliance Officer

Operations Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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