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PDF Editor FAQ

What does obtaining an LLC entail?

Obtaining an LLC is very simple, especially in Oklahoma. The first step is to do a name search with the agency in your state where the LLC will be registered. In Oklahoma, as with many states, that agency is the Secretary of State, and that office handles all business filings in the state. In Oklahoma, the Secretary of State requires that you do a name search first to make sure the name of your LLC is not the name of another business.Once you complete that step, the next step is to file the articles of organization with the Secretary of State and pay the filing fee (which in Oklahoma is $100). You do not have to create from scratch the articles of organization; the Secretary of State has a simple form that you can fill out on line and submit it electronically. Once this is completed, you will have your LLC, and the Secretary of State will e-mail you instructions to obtain your Articles of Organization, and other paperwork your bank might require to open a business bank account in the name of the LLC.There is a third step, which is optional but encouraged, and that is to prepare an operating agreement for your LLC. Especially if your LLC has more than one member, an operating agreement will be essential to the success of your business. It is wise to consult with an attorney to prepare the operating agreement for you.

Can I change what my LLC does?

Yes, you can change what your LLC does, so long as you are acting in accordance with your operating agreement (assuming you have an operating agreement in place). Most states do not require you to report the purpose of your LLC in your articles of organization, but some might and you may have to file an amended articles if that purpose changes. This is not an issue in Oklahoma.

If you want to sell your total ownership interest in a multi-member LLC that has NO "Operating Agreement" to Another fellow member with the consent of all the members, Can you do this with just a sales contract? Thank you in advance.

I am not sure what state your LLC is filed in, but in Oklahoma, you are not required to have an operating agreement, and if you do have an operating agreement, it is NOT supposed to be filed with the Secretary of State. That being said, I would recommend consulting with an attorney to create an operating agreement first, before you “sell” your membership interest in the LLC to a fellow member. Then, it is likely you will only need the consents to approve the sale, depending on what the operating agreement said. But, first things first. Get an operating agreement before you offer your membership interest for sale.

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