Tara Duncan
This thread seems unnecessarily confusing. Your statement, "Let's make a LIMITED LIABILITY COMPANY OPERATING AGREEMENT together" may be the source. It might have been better to say you want to create a legal entity (company, corporation, lemonade stand) to accomplish certain goals. The questions being asked, are being answered, but the answers appear to be perplexing. I suggest you revisit the basics. What is a company? What is a corporation? What is a trust? Why do you want to create one, or the other? What will it do? Sell things, hold things... Who will have authority to make decisions on behalf of this entity? Who will benefit, and how, from what is sold, held, or produced? If you know what you want, the process of creating, defining, and operating your legal entity should be no more difficult than following a cooking recipe. You decide what you want to make. You collect the ingredients, and then you execute the necessary tasks to produce the desired result. Idiots create companies all the time, so it isn't that difficult from a procedural standpoint. Until you understand what you want, why you want it, and what you need to accomplish, the answers to your questions, while correct, will be meaningless and confusing.