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Single Member Manager Managed LLC Operating Agreement

Single Member Manager Managed LLC Operating Agreement Template for Singapore

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Key Requirements PROMPT example:

Single Member Manager Managed LLC Operating Agreement

"I need a Single Member Manager Managed LLC Operating Agreement adapted for Singapore law for my new tech consulting business, where I'll be the sole owner and manager, with initial capital of SGD 100,000 and potential plans to expand into software development."

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Document background
The Single Member Manager Managed LLC Operating Agreement, adapted for Singapore's legal framework as a private limited company constitution, is essential for sole proprietors seeking to establish a formal business structure with limited liability protection. This document is particularly relevant when establishing a business where one individual will serve as both owner and manager. It details ownership rights, management responsibilities, capital contributions, profit distribution, and operational procedures, all while ensuring compliance with Singapore's Companies Act 1967 and related regulations.
Suggested Sections

1. Parties: Identifies the company and the sole member/manager

2. Background: Sets out the context and purpose of establishing the company

3. Definitions: Defines key terms used tHRoughout the agreement

4. Company Formation: Details of company establishment and registration

5. Capital Structure: Share capital details and contribution requirements

6. Management Rights and Responsibilities: Powers and duties of the manager

7. Operations and Decision Making: Day-to-day management procedures

8. Financial Matters: Accounting, distributions, and fiscal arrangements

9. Transfer Restrictions: Rules regarding transfer of ownership

10. Dissolution and Winding Up: Procedures for company termination

Optional Sections

1. Additional Capital Contributions: Procedures for additional funding when future capital needs are anticipated

2. Intellectual Property Rights: IP ownership and protection provisions when company owns or develops IP

3. Employment Matters: Employment policies and procedures when company plans to hire employees

4. Dispute Resolution: Procedures for resolving conflicts when specific dispute resolution mechanisms are desired

Suggested Schedules

1. Schedule 1: Company Details: Registration information and corporate particulars

2. Schedule 2: Initial Capital Contributions: Details of initial share capital and contributions

3. Schedule 3: Management Procedures: Detailed operational procedures and policies

4. Appendix A: Specimen Signatures: Authorized signatures for company documents

5. Appendix B: Form of Transfer Instrument: Template for share transfer documentation

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 and Name
Business Purpose
Principal Place of Business
Term and Duration
Capital Contributions
Share Capital
Management Structure
Powers and Duties of Manager
Voting Rights
Meetings
Business Operations
Financial Management
Banking and Financial Accounts
Distributions and Dividends
Tax Matters
Books and Records
Transfer Restrictions
Additional Members
Withdrawal Rights
Dissolution and Winding Up
Confidentiality
Intellectual Property
Indemnification
Insurance
Notices
Amendment Procedures
Governing Law
Dispute Resolution
Force Majeure
Severability
Entire Agreement
Assignment
Compliance with Laws
Industries

Companies Act 1967 (Cap. 50): Primary legislation governing company formation, director's duties, corporate governance, and share capital structure for private limited companies in Singapore

Business Names Registration Act 2014: Legislation governing the requirements and procedures for business registration in Singapore

Securities and Futures Act (Cap. 289): Legislation governing investment-related activities and securities trading in Singapore, relevant if the company engages in investment activities

Income Tax Act: Legislation governing corporate tax obligations and compliance requirements for companies operating in Singapore

Employment Act: Principal legislation governing employment relationships and working conditions in Singapore, applicable if the company will have employees

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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