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Member Managed Operating Agreement

Member Managed Operating Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Member Managed Operating Agreement

"I need a Member Managed Operating Agreement for a UAE-based technology startup LLC with three international members, incorporating specific provisions for intellectual property rights and quarterly profit distribution, planned to commence operations in March 2025."

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Document background
The Member Managed Operating Agreement serves as the foundational document for Limited Liability Companies in the UAE where members directly participate in company management. This document is essential when establishing a new LLC or restructuring an existing one, particularly under UAE Federal Law No. 32 of 2021. It details crucial aspects such as capital structure, management rights, profit distribution, and member obligations. The agreement is specifically designed to comply with UAE commercial regulations while providing the flexibility needed for effective business operations. It's particularly relevant for small to medium-sized enterprises where owners want direct involvement in day-to-day management decisions.
Suggested Sections

1. Parties: Identification of all founding members and the LLC entity being formed

2. Background: Context of the agreement and purpose of the LLC formation

3. Definitions: Key terms used throughout the agreement

4. Formation and Name: Details of company formation, name, and registered office

5. Purpose and Powers: Company's business purpose and scope of authorized activities

6. Members and Capital Contributions: Initial capital contributions, ownership percentages, and member information

7. Management Structure: Management rights, voting procedures, and decision-making processes

8. Meetings and Voting: Procedures for member meetings, voting rights, and quorum requirements

9. Financial Affairs: Banking, accounting, tax matters, and distribution of profits

10. Transfer of Interests: Rules regarding transfer of membership interests and restrictions

11. Withdrawal and Admission: Procedures for member withdrawal and admission of new members

12. Dissolution and Liquidation: Process for company dissolution and asset distribution

13. General Provisions: Miscellaneous legal provisions including governing law, notices, and amendments

Optional Sections

1. Intellectual Property Rights: Required when the company will develop or manage significant IP assets

2. Non-Competition and Confidentiality: Added when specific restrictions on member business activities are needed

3. Islamic Finance Compliance: Required when the business needs to operate under Sharia principles

4. Free Zone Provisions: Required when the company is established in a UAE Free Zone

5. Branch Operations: Added when the company plans to operate branches

6. Specialized Industry Provisions: Required for regulated industries like healthcare or education

Suggested Schedules

1. Schedule 1 - Member Information: Detailed information about members including contact details and ownership percentages

2. Schedule 2 - Initial Capital Contributions: Itemized list of initial capital contributions including valuations

3. Schedule 3 - Business Plan: Initial business plan and operational strategy

4. Schedule 4 - Company Policies: Key operational policies and procedures

5. Appendix A - Specimen Signatures: Authenticated signatures of all members

6. Appendix B - Trade License: Copy of trade license and registration documents

7. Appendix C - Powers of Attorney: If applicable, powers of attorney for member representatives

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Clauses
Formation
Purpose
Capital Contribution
Membership Interest
Management Rights
Voting Rights
Meeting Procedures
Distribution of Profits
Transfer Restrictions
Admission of Members
Withdrawal of Members
Confidentiality
Non-Competition
Financial Management
Tax Matters
Record Keeping
Dissolution
Dispute Resolution
Governing Law
Force Majeure
Amendments
Notices
Assignment
Severability
Entire Agreement
Indemnification
Termination
Member Death or Incapacity
Business Operations
Banking Arrangements
Relevant Industries

Professional Services

Real Estate

Trading

Technology

Manufacturing

Retail

Hospitality

Construction

Consulting

E-commerce

Healthcare

Education

Financial Services

Media and Entertainment

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Finance

Operations

Compliance

Risk Management

Business Development

Administrative

Relevant Roles

Chief Executive Officer

Managing Director

Company Director

Legal Counsel

Corporate Lawyer

Business Development Manager

Operations Manager

Finance Director

Company Secretary

Compliance Officer

Risk Manager

General Manager

Partner

Member Representative

Board Member

Industries
UAE Federal Law No. 32 of 2021: The Commercial Companies Law - Primary legislation governing the establishment, operation, and management of companies in the UAE. Essential for defining company structure, management rights, and obligations.
UAE Federal Law No. 8 of 1984: The Commercial Transactions Law - Governs commercial transactions and business operations, including contracts and commercial obligations between parties.
UAE Federal Decree-Law No. 33 of 2021: Regulation of Employment Relationships Law - Important for defining management responsibilities and employment relationships within the company structure.
UAE Federal Law No. 4 of 2012: Competition Law - Relevant for defining competitive practices and restrictions in the operating agreement.
UAE Federal Law No. 19 of 2018: Foreign Direct Investment Law - Important for understanding foreign ownership restrictions and permissions in UAE companies.
UAE Federal Law No. 2 of 2015: Commercial Companies Law regarding Commercial Register - Relevant for registration requirements and procedures.
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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