11.4. Engagement effect; No third-party beneficiaries. This agreement is binding on the signatories of this agreement and for all subsequent members, their spouses, heirs, executors, executors, agents, successors and beneficiaries of the transfer, for the signatories of this agreement and, to the extent intended, and to the extent intended. Article 9 of the agreement also benefits those insured within its meaning. Members recognize and accept that this agreement must be binding on the company and binding on the benefit of the company and that the provisions of this agreement are applicable by and against the company. The Company`s obligations under this contract are solely the obligations of the company and, without additional written agreement, the member has no personal liability for the company`s obligations, including obligations under Article 9 of this Agreement. No creditor of the company or a member is entitled to third-party beneficiary status or is intended to enforce a party`s obligation under this agreement. 2.2. Nature of membership interests. The interest of membership in society is personal property. A member of the company or an affiliate transferee has no interest in any particular property of the company.
The interest of the affiliation includes a member`s share of profits and losses or similar positions, as well as the right to distribute under this Agreement, but not the right of a member to participate in administration. A single LLC member may lose liability protection if the owner does not maintain a genuine separation from the LLC. Translation: If you own a single LLC member and pay for all your personal belongings on the LLC current account, you can tell a judge to tell the same company. 8.1. Assignment is permitted. The member may transfer all or part of the member`s interests to the company (including pledges or other assignments of collateral). Your enterprise contract for individual members should contain information about contributions, accounting, administration, dissolution and more. Our free enterprise agreement model for a single MEMBER LLC covers the main themes your LLC needs: This is a simple enterprise agreement for a Texas LLC with a member (owner). The membership voting rules are set out in your Texas LLC`s enterprise agreement.
If you use the model for a member-managed LLC below, the voting rights are proportional to the percentages of property LLC.