It is recommended to create a legally binding document that describes the company policy and lists the obligations of the owners if there is more than one individual in charge of the organization - prepare an Oregon Multi-Member LLC Operating Agreement . This legal instrument will let you avoid the default laws of the state that govern the activity of every company formed on its territory - besides, you will have an internal set of rules you can show your business partners and investors that want to learn how you operate on a daily basis.
You can find an Oregon Multi-Member LLC Operating Agreement template via the link below. To be sure it is effective, record the following sections to the document: the identification of the owners, the list of their rights and responsibilities, the brief explanation of the objectives set by the company, the distribution of shares and revenue, and the organizational matters like the addition of the new member, the removal of the old one, and the termination of business activities.
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