OPERATION AGREEMENT Definition

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OPERATION AGREEMENT, within an LLC, is similar to the constitution of a corporation. It is drafted primarily because an LLC only has a basic Articles of Organization that is very general in nature. An Operation Agreement has much more specificity as to the formation and operation of the LLC organization.

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CALL OPTION is the right to buy a security within a fixed period of time at a fixed price.

MISCELLANEOUS is a grouping consisting of a haphazard assortment of different kinds.

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