LLC Articles of Organization

General Real Estate Investing
1

Hi,
This is a copy of LLC articles that a friend gave me. I would appreciate any comments on whether it is solid or not.
Thanks,

Daren

ARTICLES OF ORGANIZATION

OF

ABC Properties, LLC

THE UNDERSIGNED, ACTING PURSUANT TO THE UTAH LIMITED LIABILITY ACT (THE “ACT”), ADOPTS THE FOLLOWING ARTICLES OF ORGANIZATION FOR THE PURPOSE OF ORGANIZING A UTAH LIMITED LIABILITY COMPANY (THE “COMPANY”).

  1. NAME. THE COMPANY’S NAME IS ABC Properties, LLC.

  2. TERM. THE COMPANY WILL CONTINUE UNTIL JANUARY 1, 2099, UNLESS SOONER DISSOLVED BY LAW OR AS PROVIDED IN THE COMPANY’S OPERATING AGREEMENT.

  3. PURPOSE. THE COMPANY IS ORGANIZED TO ACQUIRE, DEVELOP, IMPROVE, RENT, MANAGE, AND SELL REAL PROPERTY OF ALL KINDS, TO PERFORM ESCROW SERVICES SUCH AS THE COLLECTION AND DISBURSEMENT OF FUNDS, AS WELL AS TO ENGAGE IN AND TO DO ANY LAWFUL ACT CONCERNING ANY AND ALL LAWFUL BUSINESS FOR WHICH A LIMITED LIABILITY COMPANY MAY BE ORGANIZED UNDER THE UTAH LIMITED LIABILITY COMPANY ACT AND ANY AMENDMENTS THERETO.

  4. MANAGEMENT. THE COMPANY WILL BE MANAGED BY ITS MANAGING MEMBER. THE NAME AND BUSINESS ADDRESS OF THE COMPANY’S MANAGING MEMBER ARE GORDON MILLER, 5842 S 1150 W, RIVERDALE, UTAH 84405. THE NAMES OF OTHER MEMBERS ARE LISTED BELOW UNDER THE MEMBERS SUBTITLE.

  5. REGISTERED AGENT. THE COMPANY SHALL CONTINUOUSLY MAINTAIN AN AGENT IN THE STATE OF UTAH FOR SERVICE OF PROCESS WHO IS AN INDIVIDUAL RESIDING IN SAID STATE. THE NAME AND ADDRESS OF THE INITIAL REGISTERED AGENT SHALL BE:

John Doe
5842 S 1150 W
ANYWHERE, UT 84405

ACCEPTANCE OF APPOINTMENT:

JOHN DOE

THE DIRECTOR OF THE DIVISION OF CORPORATIONS AND COMMERCIAL CODE OF THE DEPARTMENT OF COMMERCE FOR THE STATE OF UTAH IS APPOINTED THE REGISTERED AGENT OF THE COMPANY FOR THE SERVICE OF PROCESS IF THE REGISTERED AGENT HAS RESIGNED, THE REGISTERED AGENT’S AUTHORITY HAS BEEN REVOKED, OR THE REGISTERED AGENT CANNOT BE FOUND OR SERVED WITH THE EXERCISE OF REASONABLE DILIGENCE.

  1. MEMBERS THE NAMES AND STREET ADDRESSES OF MEMBERS WHO SHALL CONSTITUTE THE INITIAL MEMBERS OF
    THE COMPANY ARE AS FOLLOWS:

JOHN DOE
5842 S 1150 W
ANYWHERE, UT 11111

JIM DOE
254 W 7TH ST.
ANYWHERE, UT 11111

JANE DOE
5842 S 1150 W
ANYWHERE, UT 11111

.

DATED JUNE 22, 2001

2

too restrictive in purpose.

The purpose for which the company is organized is for the transaction of any and all lawful business for which limited liability companies may be organized.

why limit yourself if you don’t have to.

other than that, as long as it complies with UT law, you should be good to go.

make sure you have an operating agreement. it’s more important than the articles, which are mainly just for the state.

3

Thank you Mark! I really appreciate your insight!

-Daren