True. Hi, we're going to write about the Alaska LLC operating agreement. This agreement is a free form that can be obtained from this website. It is not mandatory for every LLC in Alaska, but it is highly recommended because it is the only form that states the ownership percentages of each owner. Unlike corporations, where ownership is determined by shares, LLCs are owned on a percentage basis. The operating agreement specifies the exact percentage of ownership for each individual. This form does not need to be filed with the Secretary of State. There are two types of operating agreements: multi-member and single member. The multi-member agreement is for companies with more than one owner, while the single member agreement is for companies with only one owner. The single member agreement is mainly for legal purposes, to have a form on hand. For most users, the multi-member agreement will be the appropriate choice. There are three different formats available for the form: Microsoft Word, Rich Text, and an open version. The open version, which can be filled out directly, is the easiest option. It complies with Alaska laws, specifically Chapter 50. To fill out the form, start by entering the name of the LLC. For demonstration purposes, let's call it Appleseed. Simply type the name in the provided space. The rest of the document will have various blanks that need to be filled in. If you are unsure about what to enter, the form provides guidance immediately after each blank. The initial page mainly requires entering your information. Scroll down to the bottom of the document where the members of the LLC will need to print their names and sign. The most important sections are the schedules, where the actual members of the LLC are listed, along with their capital contributions (referring to the...
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