Operating Agreements in general.

Does a operating agreement have to be abided by? If not, what can be done or the consequences?

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Permalink Reply by Oklahomachic on January 29, 2014 at 15:19

"most" but not in my case.  My issues are not in OK.  I wish I could speak more freely, but it would be wise for me to not at this point.... The clock started ticking, so..... (breach of contract) :) I do have it covered now, with confidence that some resolution will be come to head soon....believe it or not you did help clear questions up that i WAS worried about...(I can clear one thing up, i have no problems with any other WIO.) 

Permalink Reply by Oklahomachic on January 28, 2014 at 10:27
A WIO and a operator. The JOA is to protect both parties. Everyone should abide by a legal binding contract.
Permalink Reply by Oklahomachic on January 28, 2014 at 10:34
I'm not worried about the accounting side "JIB" of course unless there is a problem. But even the JOA should and would cover that clause. Bottom line JOA is set in place to abide by to protect both parties. If it is not, it against an a agreement in short "breach of contract". Pretty simple one would think.... :)

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