Llc Operating Agreement With Officers

Recent Court decisions indicate that a member may compete with LLC`s business without a non-compete clause in the LLC enterprise agreement. Members of the CLL (if members are administered) or managers (if directors) may hire public servants. The specific powers and responsibilities of each officer should be described in the statutes of the Organization. If this is not the case, members must amend the articles, vote on the amendment and resubmit the document to the Secretary of State of the State or an equivalent authority responsible for regulating companies. The specific responsibility of each officer depends on his or her title. Typical officer positions are chief executive officer (CEO) or president, chief operating officer (COO), chief financial officer (CFO) and secretary. .