Georgia Limited Liability Company Law
The Georgia limited liability company law indicates the stipulations for forming and operating an LLC in the state. A Georgia LLC blends the personal asset protection of a corporation with the operational and tax advantages of a partnership.
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Membership
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Georgia limited liability company law indicates that one or more members may participate in a Georgia LLC. The law in Georgia allows a foreign or domestic corporation, limited or general partnership, an LLC or an individual to become members of an LLC.
Articles of Organization
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Georgia limited liability company law requires LLCs to file articles of organization with the Georgia secretary of state. The articles of organization include general information about the LLC, such as the legal name of the company and the location where legal process may be served against the business. As of 2010, Georgia LLCs must pay a fee of $100 to file articles of organization with the state.
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Operating Agreement
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Georgia LLCs must create a written operating agreement that sets rules and regulations for the company. The operating agreement may contain provisions such as the responsibilities of the LLC's members and the voting rights of the company's members. Georgia LLCs must keep an operating agreement at the company's principal place of business.
Liability
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Members, managers, employees and agents of a Georgia LLC are not personally liable for the business debts, obligations and liabilities of the LLC. Business creditors of a Georgia LLC are not able to recoup business losses by pursuing the personal assets of a manager, employee, agent or member of a Georgia LLC.
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