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This is a form of a memorandum providing notice that the operator and nonoperators have entered into an Operating Agreement and states their respective working interests.
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What is memorandum of operating agreement
A memorandum of operating agreement is a document that outlines the management structure and operational procedures of a business entity, typically a limited liability company (LLC).
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How to fill out the memorandum of operating agreement
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1.Go to pdfFiller and log in to your account.
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2.Click on 'Create New Document' to start a new memorandum of operating agreement.
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3.Choose a template or upload an existing document you wish to modify.
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4.Fill in the basic information such as the name of the LLC, its primary address, and the names of the LLC members.
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5.Specify the management structure, including whether it’s member-managed or manager-managed, and list the responsible individuals.
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6.In the operating terms section, outline the obligations, powers, and duties of each member or manager of the LLC.
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7.Include provisions for profit sharing, decision-making processes, and procedures for handling disputes.
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8.Review all information for accuracy and completeness before proceeding to the next step.
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9.Once done, click 'Save' and then 'Download' or 'Print' to get a copy of your memorandum of operating agreement.
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