Articles of Organization Professional LLC is a crucial document required when licensed professionals in India wish to establish a formal business entity that combines the benefits of limited liability with professional practice requirements. This document is essential for compliance with the Limited Liability Partnership Act, 2008, and relevant professional regulatory bodies in India. It contains detailed information about the organization's structure, professional members' qualifications, service offerings, management framework, and operational procedures. The document is particularly important as it establishes the foundation for professional service delivery while protecting members' interests through limited liability provisions. It must be filed with the appropriate Indian authorities and professional regulatory bodies to obtain necessary approvals and registrations.
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1. Name and Formation: States the name of the Professional LLC and declares its formation under applicable laws
2. Registered Office: Specifies the official registered address of the Professional LLC
3. Purpose and Professional Services: Defines the specific professional services the LLC will provide and its primary business objectives
4. Members: Lists the initial members/partners and their professional qualifications
5. Capital Contributions: Details the initial capital contributions of each member
6. Management Structure: Outlines the management structure and decision-making processes
7. Professional Standards: Establishes professional practice standards and compliance requirements
8. Voting Rights: Specifies voting rights and procedures for different classes of members
9. Transfer of Membership Interest: Rules governing the transfer of ownership interests
10. Dissolution and Winding Up: Procedures for dissolution and distribution of assets
11. Books and Records: Requirements for maintaining financial and professional records
1. Foreign Investment: Required if the LLC has foreign members or international operations
2. Professional Insurance: Details professional liability insurance requirements if applicable to the specific profession
3. Intellectual Property Rights: Necessary for professional services involving creation or use of intellectual property
4. Branch Offices: Include if the LLC plans to operate multiple offices
5. Arbitration and Dispute Resolution: Optional section for specifying alternative dispute resolution procedures
6. Non-Compete Provisions: Include if members are restricted from competing activities
1. Schedule A - Member Details: Detailed information about members including professional qualifications and license numbers
2. Schedule B - Capital Contributions: Detailed breakdown of initial and subsequent capital contributions
3. Schedule C - Professional Services: Comprehensive list of professional services offered
4. Schedule D - Management Structure: Detailed organizational chart and management responsibilities
5. Appendix 1 - Professional Compliance Guidelines: Specific professional standards and compliance requirements
6. Appendix 2 - Code of Ethics: Professional ethics guidelines specific to the LLC's field of practice
Authors
Relevant legal definitions
Clauses
Relevant Industries
Legal Services
Medical Services
Accounting and Financial Services
Architectural Services
Engineering Services
Management Consulting
Information Technology Services
Healthcare Services
Professional Education Services
Research and Development Services
Relevant Teams
Legal
Compliance
Professional Services
Operations
Administration
Risk Management
Corporate Governance
Business Development
Regulatory Affairs
Relevant Roles
Managing Partner
Professional Partner
Company Secretary
Legal Counsel
Compliance Officer
Professional Services Director
Managing Director
Chief Executive Officer
Chief Operating Officer
Professional Practice Head
Regulatory Affairs Manager
Business Development Director
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