§ 23-18-4-6 — Initial operating agreement; amendments; power of attorney

Indiana § 23-18-4-6

• Jurisdiction: Indiana
• Title 23: BUSINESS AND OTHER ASSOCIATIONS
• Art. 18: LIMITED LIABILITY COMPANIES
• Ch. 4: Rights and Duties of Members and Managers

Text

(a) The initial operating agreement must be
agreed to by all persons who are members at the time the initial
agreement is accepted.
(b) An amendment to an oral operating agreement must be approved
by the unanimous consent of all members.
(c) An amendment to a written operating agreement must be in
writing and must, unless otherwise provided in the operating agreement
before the amendment, be approved by the unanimous consent of all
members.
(d) A copy of any written amendment to an operating agreement
must be delivered to each member who did not consent to the
amendment and to each assignee who has not been admitted as a
member.
(e) A person may sign articles of organization, an operating
agreement, or an amendment to articles of organization or an operating
agreement as an attorney in fact. A power of attorney relating to the
signing of a document under this subsection by an attorney in fact may
but is not required to be:
(1) sworn to, verified, or acknowledged;
(2) signed in the presence of a notary public;
(3) filed with the secretary of state; or
(4) included in another written agreement.
However, the power of attorney must be retained in the records of the
limited liability company.

Legislative History

As added by P.L.8-1993, SEC.301. Amended by P.L.130-2006, SEC.27.