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Standard LLC Agreement

Standard LLC Agreement Template for New Zealand

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Key Requirements PROMPT example:

Standard LLC Agreement

"I need a Standard LLC Agreement for a new technology startup in New Zealand, to be established in March 2025, with provisions for future investor participation and an employee share scheme, structured for three founding members with equal shareholding."

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Document background
The Standard LLC Agreement serves as the foundational document for establishing and operating a Limited Liability Company in New Zealand. This document is essential when forming a new company or formalizing the structure of an existing one, providing comprehensive guidelines for company governance, shareholder relationships, and operational procedures. Created in accordance with the Companies Act 1993 and other relevant New Zealand legislation, this agreement outlines crucial aspects such as share ownership, management rights, decision-making processes, and dispute resolution mechanisms. It's particularly valuable for businesses seeking to establish clear organizational structures while ensuring compliance with New Zealand's regulatory requirements. The Standard LLC Agreement is designed to be adaptable to various business sizes and types while maintaining the necessary legal protections and governance frameworks required under New Zealand law.
Suggested Sections

1. Parties: Identifies and defines all members/shareholders entering into the agreement

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

3. Definitions and Interpretation: Defines key terms used throughout the agreement and interpretation rules

4. Company Formation: Details of company establishment, business purpose, and registered office

5. Share Capital and Certificates: Structure of share capital, classes of shares, and share certificate provisions

6. Members Rights and Obligations: Details the rights, responsibilities, and obligations of company members

7. Transfer of Shares: Procedures and restrictions for transferring shares between members or to third parties

8. Meetings and Resolutions: Procedures for member meetings, voting rights, and passing resolutions

9. Directors and Management: Appointment, removal, and powers of directors, and management structure

10. Financial Matters: Financial management, distributions, and dividend policies

11. Records and Reports: Requirements for maintaining company records and reporting obligations

12. Termination and Dissolution: Processes for company termination and asset distribution

13. General Provisions: Standard clauses including notices, amendments, governing law, and dispute resolution

Optional Sections

1. Pre-emptive Rights: Detailed procedures for existing members' rights to purchase shares before offering to third parties

2. Tag-Along and Drag-Along Rights: Special provisions for share sales involving multiple shareholders

3. Intellectual Property: Provisions regarding ownership and protection of company IP, used when IP is significant to the business

4. Non-Competition and Confidentiality: Restrictions on competitive activities and protection of company information

5. Employee Share Schemes: Framework for implementing employee share ownership plans

6. Advisory Board: Structure and role of advisory board, if required

7. International Operations: Special provisions for companies operating internationally

Suggested Schedules

1. Schedule 1: Company Details: Initial shareholders, directors, share capital structure, and registered office details

2. Schedule 2: Share Capital: Detailed breakdown of share classes, rights, and restrictions

3. Schedule 3: Adoption Resolution: Initial company resolutions adopting the agreement

4. Schedule 4: Business Plan: Initial business plan and strategic objectives

5. Schedule 5: Reserved Matters: List of decisions requiring special approval

6. Appendix A: Share Transfer Forms: Template forms for share transfers

7. Appendix B: Meeting Procedures: Detailed procedures for conducting meetings

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Relevant Industries

Technology

Professional Services

Retail

Manufacturing

Healthcare

Real Estate

Financial Services

Construction

Hospitality

Agriculture

Education

Consulting

Import/Export

Entertainment

Transportation

Relevant Teams

Legal

Corporate Governance

Executive Leadership

Finance

Compliance

Administrative

Board of Directors

Company Secretariat

Risk Management

Strategic Planning

Relevant Roles

Chief Executive Officer

Company Director

Business Owner

Corporate Lawyer

Legal Counsel

Company Secretary

Chief Financial Officer

Managing Director

Board Member

Compliance Officer

Business Development Manager

Corporate Governance Manager

Finance Director

Startup Founder

General Counsel

Industries








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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