Level of Consent Specified in Articles of Organization Sample Clauses

Level of Consent Specified in Articles of Organization. To what extent could the Articles of Organization vary the presumed requirement for unanimous consent? It should be noted that under the definition of operating agreement found in the Montana Limited Liability Company Act, it would appear that some point there be unanimous consent as to the terms and provisions of an operating agreement, since the terms and conditions of an operating agreement states that it is binding upon all of the members. It maybe contemplated that the Articles of Organization could include a provision regarding the operating agreement and the level of consent required to adopt the operating agreement. Any provision not inconsistent with law may be included in the Articles of Organization.18 Presumably, this would include a provision regarding the voting or the level of consent required to adopt an operating agreement that would be binding upon all of the members. Query: how far such a provision may be taken. By agreeing to contribute property to and become a member of a LLC, presumably a member would be consenting to the Articles of Organization and thereby could be considered to consent to the provision therein setting forth a less-than-unanimous requirement for adoption of an operating agreement . At any rate, the provisions under Montana law are not iron-clad as to the consent required to adopt an operating agreement, but this is an issue that only rarely will arise with 18 35-8-202 (1)(g), M.C.A. closely-held LLCs because members will consent to the original operating agreement unanimously.
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