The Multi Member LLC Articles of Organization is a crucial document required when establishing a Limited Liability Company with multiple owners in Pakistan. It serves as the primary governing document that must be filed with the Securities and Exchange Commission of Pakistan (SECP) before a company can begin operations. This document is essential for businesses seeking to operate under the limited liability structure while having multiple owners or investors. The Articles must comply with the Companies Act 2017 and include detailed information about the company's structure, management, capital, member rights and responsibilities, and operational procedures. It provides the legal foundation for the company's existence and serves as a reference point for resolving internal disputes and managing relationships between members.
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1. Introduction and Filing Declaration: States the intent to form an LLC under Pakistan law and basic company information
2. Name and Registered Office: Specifies the company name, registered office address, and any business names
3. Purpose and Powers: Defines the business purposes and general powers of the LLC
4. Duration: States whether the LLC has a specific term or perpetual existence
5. Members: Lists initial members and their contributions
6. Capital Structure: Details the initial capital, membership units/shares, and capital contribution requirements
7. Management Structure: Defines whether the LLC is member-managed or manager-managed and outlines management rights
8. Meetings and Voting: Procedures for member meetings and voting requirements
9. Transfer Restrictions: Rules regarding transfer of membership interests
10. Dissolution and Winding Up: Circumstances and procedures for dissolution
11. Books and Records: Requirements for maintaining company records and member access rights
12. Amendments: Procedures for amending the Articles of Organization
1. Foreign Investment Provisions: Required when any members are foreign nationals, addressingFERA compliance
2. Specific Business Activities: Required when the LLC will engage in regulated activities requiring special licenses
3. Shariah Compliance: Optional section for LLCs wishing to operate under Islamic financial principles
4. Intellectual Property Rights: Required when the LLC owns or will develop significant IP assets
5. Branch Offices: Required when the LLC plans to operate multiple locations
6. Special Purpose Vehicle Provisions: Required when the LLC is formed as an SPV for specific projects
1. Schedule A - Member Information: Detailed information about members including contact details and ownership percentages
2. Schedule B - Initial Capital Contributions: Itemized list of cash and non-cash contributions by members
3. Schedule C - Management Structure: Detailed organizational chart and management responsibilities
4. Appendix 1 - Specimen Signatures: Authorized signatures of initial members and managers
5. Appendix 2 - Form of Transfer Instrument: Template for documenting membership interest transfers
6. Appendix 3 - Compliance Checklist: List of regulatory requirements and filing obligations
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