[WY] Can we add Charging Orders to my Single-member Wyoming LLC Operating Agreement?
Can we add Charging Orders to my Single-member Wyoming LLC Operating Agreement?
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Greetings, my name is Esquirechamp.
Yes, you can add provisions regarding charging orders to your Single-member Wyoming LLC Operating Agreement.
Under Wyoming law, the operating agreement of an LLC can include various provisions, including those related to the transfer of ownership interests and the rights of members (In re Kite Ranch, LLC, 234 P.3d 351 (2010)).
Specifically, Wyoming Statute §17-29-407 allows the operating agreement to specify management structures and the amendment process, which can include provisions related to charging orders (W.S.1977 § 17-29-407).
Additionally, Wyoming Statute § 17-31-104 mentions that the operating agreement can include restrictions on transfers and other member rights, which can encompass charging orders (W.S.1977 § 17-31-104).
Therefore, you can amend your operating agreement to include charging orders, provided that the amendment process specified in the agreement is followed (Mantle v. North Star Energy & Construction LLC, 437 P.3d 758 (2019)).
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Can we add Charging Orders to my Single-member Wyoming LLC Operating Agreement?
Lexi, Chatbot
I understand you're looking to add Charging Orders to your Single-member Wyoming LLC Operating Agreement. Have you consulted with a lawyer about this specific modification before?
I have not consulted about the specifics but have learned I'd better include it for asset protection and anonymity.
Lexi, Chatbot
Are you looking to add Charging Orders for asset protection purposes or for another reason?
Yes.
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they'll be able to help with Charging Orders.
No.
EsquireChamp
Greetings, my name is Esquirechamp.
Yes, you can add provisions regarding charging orders to your Single-member Wyoming LLC Operating Agreement.
Under Wyoming law, the operating agreement of an LLC can include various provisions, including those related to the transfer of ownership interests and the rights of members (In re Kite Ranch, LLC, 234 P.3d 351 (2010)).
Specifically, Wyoming Statute §17-29-407 allows the operating agreement to specify management structures and the amendment process, which can include provisions related to charging orders (W.S.1977 § 17-29-407).
Additionally, Wyoming Statute § 17-31-104 mentions that the operating agreement can include restrictions on transfers and other member rights, which can encompass charging orders (W.S.1977 § 17-31-104).
Therefore, you can amend your operating agreement to include charging orders, provided that the amendment process specified in the agreement is followed (Mantle v. North Star Energy & Construction LLC, 437 P.3d 758 (2019)).
Thank you. I'm in the process of creating an Operating Agreement. Could you please provide me with the Charging Orders wording so I can include it into the Agreement?
EsquireChamp
I'm sorry I'm prohibited from helping draft specific documents as that would impose an attorney-client relationship, which is prohibited on this platform.
Ok, thank you.
I don’t know what kind of questions I can ask you. I needed a general, not specific wording for Charging Orders and didn’t get an answer.
EsquireChamp
You're welcome. Thank you for your time.
If you have any additional questions, you can reach out to me directly by asking through my profile. Thank you for your time and thank you for using Ask a Lawyer.
EsquireChamp
Here is a link to general charging order verbiage/templates:
https://www.lawinsider.com/clause/charging-order. Let me know if you'd like this converted to styled HTML/CSS code for web or mobile display.
EsquireChamp
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