Article of Incorporation
[Name of LLC] LLC Articles of Organization
ARTICLE I Name The name of this Limited Liability Company shall be "[Name of LLC]" LLC. If this name is not available due to any legal restrictions, the members are empowered to adopt a legally permissible alternative that similarly reflects the objectives of the LLC.
ARTICLE II Duration The existence of this LLC shall be perpetual unless dissolved according to the terms of the operating agreement or under applicable state law.
ARTICLE III Purpose The primary purpose of this LLC is to establish, maintain, and operate a residential retreat center that supports a fractional ownership and coliving model. This includes, but is not limited to, managing real estate properties, facilitating community-oriented activities, and conducting any other lawful business activities permitted under the laws of the state of incorporation.
ARTICLE IV Membership and Capital Contributions
Eligibility and Admission: Membership in this LLC shall be open to individuals who apply in writing, agree to adhere to the terms of the operating agreement, and purchase a membership interest. Capital Contributions: Each member is required to contribute an initial capital amount as specified in the operating agreement. Additional contributions may be determined by member consensus or according to conditions set forth in the operating agreement. Rights and Obligations: Members are entitled to a share of the LLC’s profits and assets, voting rights, and other member benefits as outlined in the operating agreement. Members are obligated to comply with all provisions of the operating agreement and this Articles of Organization. Withdrawal and Transfer: Members may withdraw from the LLC or transfer their interests under conditions specified in the operating agreement. Withdrawal does not entitle a member to a refund of contributed capital unless specifically agreed upon.
ARTICLE V Distribution of Profits and Losses Profits and losses shall be allocated to members annually or at another agreed-upon frequency, in proportion to their ownership interests as specified in the operating agreement. Distributions must be approved by a majority vote of the members unless a different voting threshold is set in the operating agreement.
ARTICLE VI Management Structure The LLC may be managed by its members (member-managed) or by one or more managers (manager-managed) as designated in the operating agreement. The operating agreement shall specify the powers, duties, and restrictions of the managers.
ARTICLE VII Meetings and Voting Regular and special meetings of the members shall be held as required by the operating agreement. Voting rights shall be proportional to each member’s ownership interest, unless otherwise specified in the operating agreement.
ARTICLE VIII Disposition of Assets on Termination Upon dissolution, the assets remaining after paying or making provision for all liabilities shall be distributed to the members in proportion to their respective interests in the LLC, as described in the operating agreement.
ARTICLE IX Registered Office and Agent The registered office of the LLC is located at [Registered Address], and the registered agent at such address is [Registered Agent's Name and Address].
ARTICLE X Initial Members The names and addresses of the persons who are the initial members of the LLC are as follows: [List Names and Addresses of Initial Members]
ARTICLE XI Amendments These Articles of Organization may be amended as provided in the operating agreement, subject to the approval of a specified majority of the members' votes.