Common use of TECHNICAL IMPROVEMENTS Clause in Contracts

TECHNICAL IMPROVEMENTS. Organization and navigation Drafted in organized manner to provide ease of navigation; succinct provisions, avoids “over- corporatization.” Formation § 201- A LLC is formed when the certificate of organization is effective and at least one person has become a member. § 7-16-5 – A LLC is formed when the Secretary of State accepts the articles of organization for filing and issues the certificate of organization. One or more persons must deliver the executed articles of organization to the Secretary of State. Permissible purpose § 108 – LLC is not restricted to for-profit business activities, but may engage in “any lawful purpose, regardless of whether for profit.” This expands the availability of LLCs to family vacation homes and organizations whose activities might be classified as non-profit. § 7-16-3 – LLC is a company that has the purpose of “engaging in any lawful business . . . unless a more limited purpose . . . is set forth in the articles of organization.”