An Alaska LLC operating agreement is a written agreement among all of the members of a limited liability company (LLC) about conducting the affairs of the company.[1.4] Alaska law lets the members adopt one and amend or repeal it.[1.2] You can fill out our free single-member form online or download it as a PDF.
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Use the builder above to fill in the Alaska form online. You can also download the PDF, Word, or OpenDocument file, complete it by hand, and sign it.
Alaska LLC Operating Agreement Laws and Definition
Alaska’s LLC statute defines an operating agreement as a written agreement among all of the members of a limited liability company about conducting the affairs of the company.[1.4] Under Section 10.50.095, the members may adopt an operating agreement for the company and may amend and repeal it.[1.2] The statute’s own words are quoted below.
The members of a limited liability company may adopt an operating agreement for the company and may amend and repeal the agreement.
Written and among all members. The definition in Section 10.50.990(17) calls it a written agreement among all of the members about conducting the affairs of the company.[2]
Members adopt and change it. The members may adopt the agreement, amend it, and repeal it.[1.2]
The articles can limit that power. The articles of organization may restrict or eliminate the members’ power to adopt, amend, or repeal an operating agreement, so read your articles first.[1.2]
Members manage by default. Unless the articles of organization say otherwise, the members manage the affairs of the company and make its decisions.[1.1]
Our form is a single-member, manager-managed agreement. If your LLC has more than one member, use the multi-member template linked below the steps.
Who Manages an Alaska LLC and What Happens If a Manager Resigns
Unless the articles of organization provide otherwise, the members of an Alaska LLC manage its affairs and make its decisions.[1.1] The statute also covers a manager who leaves in breach of the agreement. That rule is explained below.
Section 10.50.125 applies when a manager’s resignation violates the operating agreement. In addition to any other remedy available under applicable law, the company may recover damages for breach of the operating agreement from the resigning manager. It may also offset those damages against the amount otherwise distributable to that manager.[1.3]
Our form sets up a manager-managed company. Section 8 creates a Board of one or more Managers, and the Member decides how many. Section 9 lets you add Officers if you want them.
What Our Alaska LLC Operating Agreement Sample Covers
Our free Alaska LLC operating agreement template is a form of 15 pages for an LLC with one member and one or more managers. It has 31 numbered sections and three schedules. The list below shows what the main sections cover, so you can see what the document does before you fill it in.
Company details: the name, the principal business office, and the registered agent (Sections 1 to 3).
The Member and the purpose of the company (Sections 4 and 6).
Management structure: a Board of one or more Managers, plus optional Officers (Sections 8 and 9).
Money: capital contributions, profits and losses allocated to the Member, and distributions (Sections 11 to 14).
Fiscal year, books, and records (Section 15).
Limited liability, exculpation, and indemnification (Sections 10 and 17).
Resignation, admission of additional members, and dissolution (Sections 19 to 21).
Amendments, effectiveness, and disregarded entity status for federal tax (Sections 27, 30, and 31).
How to Fill Out Our Alaska LLC Operating Agreement Form
The screenshots under each step show the FormsPal Alaska LLC operating agreement template filled with sample entries in blue, so you can see where each answer goes. The names, addresses, dates and amounts are examples only.
Our Alaska form is the single-member type of operating agreement for a manager-managed LLC. Fill it in with the builder above, or download the PDF and complete it with the PDF editor or by hand. Work through the parts below in the order they appear on the form. Each step names the part of the form and says what goes in it.
Preamble. Enter the company name, the state, and the date. Then add the Member’s name, the date the Articles of Organization were filed, and the LLC statute reference where each bracketed prompt asks. The form prints the year 2021 in the date line, so check it.Step 1: sample entries, not a real company.
Sections 1 to 3. Repeat the company name in Section 1. Write the principal business office address in Section 2. Enter the registered agent’s name and address in Section 3.Step 2: sample entries, not a real company.
Section 6, Purposes. Select one box. Either describe the company’s business in the blank or select All matters permitted by applicable law.Step 3: sample entries, not a real company.
Section 8, Managers. Enter the initial number of Managers in Section 8(a). The Managers’ names go on Schedule B.Step 4: sample entries, not a real company.
Section 8(g), Compensation of Managers. Select one box. Managers may be paid expenses for attending meetings, or there is no compensation or expense reimbursement. The choices run onto page 4.Step 5: sample entries, not a real company.
Section 9, Officers. Select whether the Company has no Officers or has Officers. If you choose Officers, write each Officer’s role where the form asks.Step 6: sample entries, not a real company.
Section 15, Fiscal Year. Enter the date the fiscal year starts and the date it ends.Step 7: sample entries, not a real company.
Section 30, Effectiveness. Enter the date the entity was formed, which is the date of the Articles of Organization filing.Step 8: sample entries, not a real company.
Signature block. Sign on the By line as the Member, then print the name and title below it. Sign only after every blank above is filled in. The form has no notary or witness lines. Notarization is optional in Alaska because the LLC statute does not require it.Step 9: sample entries, not a real company.
Schedule A, Definitions. Enter the date the entity was formed in the Articles of Organization definition. Leave the other definitions as printed.Step 10: sample entries, not a real company.
Schedule B, Member, Managers and Officers. Enter the Member’s name and address, for example Anna Baker. Then list the initial Managers and, if Section 9 has Officers, the initial Officers.Step 11: sample entries, not a real company.
Schedule C, Initial capital contribution. Describe what the Member contributed to the company on the Insert Description line.Step 12: sample entries, not a real company.
These are the questions people ask most about operating agreements for Alaska LLCs. Each answer cites the Alaska statute behind it. For advice about your own company, ask an Alaska attorney.
Can I write my own operating agreement for my LLC?
Yes. Under Section 10.50.095, the members of an Alaska LLC may adopt an operating agreement for the company and may amend and repeal it. The articles of organization may restrict or eliminate that power, so check yours first.[1.2] The statute defines an operating agreement as a written agreement among all of the members about conducting the affairs of the company.[1.4]
Does Alaska require an operating agreement?
Alaska’s LLC statute provides for an operating agreement to govern the company’s internal affairs. Under Section 10.50.095, the members may adopt one and may amend and repeal it.[1.2] Section 10.50.990 defines it as a written agreement among all of the members about conducting the affairs of the company.[1.4]
Other Alaska Forms
Take a look at various other Alaska forms downloaded by our visitors. Check out our powerful builder to customize these documents to your preferences.
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