Operating Agreement For Member Managed Limited Liability Company Template for Hong Kong

1. Tax Matters: Specific tax elections and procedures - include when tax planning is a priority

2. Intellectual Property: IP ownership and protection - include for technology or creative businesses

3. Non-Compete Provisions: Restrictions on competitive activities - include when protecting business interests is crucial

4. Employee Management: Procedures for hiring and managing employees - include for larger operations

5. International Operations: Provisions for international business - include for companies operating globally

6. Insurance Requirements: Mandatory insurance coverage - include for high-risk businesses

7. Special Purpose Provisions: Industry-specific requirements - include based on business type

8. Family Succession Planning: Family business transition provisions - include for family-owned LLCs

1. Schedule A - Member Information: Detailed information about members, including contact details and initial capital contributions

2. Schedule B - Capital Accounts: Initial capital account balances and contribution details

3. Schedule C - Percentage Interests: Current ownership percentages of all members

4. Schedule D - Approved Officers: List of appointed officers and their roles

5. Schedule E - Reserved Matters: Decisions requiring special approval or unanimous consent

6. Appendix 1 - Meeting Procedures: Detailed procedures for conducting member meetings

7. Appendix 2 - Valuation Methods: Agreed methods for valuing membership interests

8. Appendix 3 - Form of Transfer Notice: Template for notifying transfer of membership interests