Justice Compass, Ltd. - Liability Company (LLC) Registration

[Dartanboy]

Username: Dartanboy

Business Name Justice Compass, Ltd.

Type of Firm Liability Company (LLC)

Headquarters Location S087

Purpose of Business Law Firm

Management Structure Manager-managed

Ownership Details Dartanboy is the sole owner. Equity transfer processes are outlined in the Operating Agreement.

Operating/Shareholders' Agreements File(s) attached

Contact Information Discord: dartanman
IGN: Dartanboy

By submitting this form, do you acknowledge that all information provided is truthful and accurate to the best of your knowledge? Yes

 

[xSyncx]

Hi @Dartanboy can you please add the following sections:
- Governing Law
- Dispute resolution
- Profit distribution

Also can you please recontextualise your agreemennt to be in terms of the membership structure rather than ownership

 

[Dartanboy]

Hi @Dartanboy can you please add the following sections:
- Governing Law
- Dispute resolution
- Profit distribution

Also can you please recontextualise your agreemennt to be in terms of the membership structure rather than ownership

Can you elaborate? It's a company in Redmont... so the Governing Law is... Redmont's laws.

Dispute Resolution is extremely simple, but clearly stated within that Major Business Decisions (which are defined) require agreement from greater than 50% of owners.

Similarly, profits belong to the company, and as ownership is shared equally among owners, profits belong equally among owners.

What's wrong the current agreement?

 

[xSyncx]

- Governing Law: I'd rather see contracts that overdo it than underdo it with governing law tbh. Suppose its a habit from finance side of DC.
- Dispute resolution: moreso for the agreement itself (interpretation and violations) rather than everyday decisions i.e require abritration/mediation
- Profit distribution: Irl the default is that profits are split evenly among owners but the BSA doesn't specify anything - simply says that "interests are defined in the LLC's operating agreement, which outlines the rights and responsibilities of each member." Profits are a membership interest

 

[Dartanboy]

- Governing Law: I'd rather see contracts that overdo it than underdo it with governing law tbh. Suppose its a habit from finance side of DC.
- Dispute resolution: moreso for the agreement itself (interpretation and violations) rather than everyday decisions i.e require abritration/mediation
- Profit distribution: Irl the default is that profits are split evenly among owners but the BSA doesn't specify anything - simply says that "interests are defined in the LLC's operating agreement, which outlines the rights and responsibilities of each member." Profits are a membership interest

I have created a new Operating Agreement, following this advice.

 

[xSyncx]

Cheers

Accepted

I, Secretary of Commerce xSyncx hereby certify Justice Compass Ltd's Operating Agreement as meeting the requirements to form an LLC. Filed

 

[Dartanboy]

In a vote of 1-0, as the sole owner of Justice Compass, Ltd. the following Operating Agreement has been approved to replace the old one, effective immediately.