If your limited liability FL COMPANY has more than one member, an enterprise agreement determines the ownership and rights and obligations of each member as well as the management of Florida LLC. In this way, everyone knows what to do and what they are entitled to. The Florida Single-Member LLC Enterprise Agreement is a legal document that must be used specifically by an individual contractor, who is also known as an individual member, to determine the ownership of the company and basic procedures. Do you have references/suggestions on other contract models that may come for an LLC? Two, which come easily to mind, are a general service contract for a consulting firm or a recruitment contractor to perform certain tasks for the LLC (i.e., someone is not an owner in the business, but has specialized skills that you want to use on a contractual basis?) Two management structures are authorized in Florida by the Florida Limited Liability Company Act – managers and members. Under the Repeal Act, the concept of an executive member was abolished. The basis for creating a single LLC is to allow an individual owner to protect personal assets. In possession of a single-headed LLC, the owner is not held responsible for the actions of LLC without the formalities required by a company. While a business agreement is not required for an LLC with a single member in Florida, an owner without it endangers his personal assets if the business is down or if the business is involved in litigation. A common and fundamental misunderstanding about THE LLC enterprise agreement is that this document confers far more powers than it actually is. In reality, your enterprise agreement will not exceed the law, no matter what it says. So you don`t lose your protected responsibility just because you don`t agree. And, you won`t be able to circumvent the law simply because you say that questionable behavior (such as using your business account as your personal piggy bank) is acceptable in your agreement.
It is a legal document that must be used by an individual contractor – the only member – that defines the ownership of the company and the basic procedures used for its day-to-day operation.