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Printable Operating Agreement Form

An Operating Agreement is a vital document for LLCs, outlining the management structure and operational procedures of the company. This agreement serves as a roadmap, guiding members through their roles and responsibilities while protecting their interests. Ready to get started? Fill out the form by clicking the button below!

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Table of Contents

Operating Agreement for Individual States

Document Overview

Fact Name	Description
Purpose	An Operating Agreement outlines the management structure and operational procedures of a limited liability company (LLC).
Governing Law	The Operating Agreement is governed by state laws, which can vary significantly. For example, in Delaware, it is governed by the Delaware Limited Liability Company Act.
Member Rights	This document specifies the rights and responsibilities of each member, including profit distribution and decision-making processes.
Flexibility	Operating Agreements are customizable, allowing members to tailor the terms to fit their specific needs and business goals.

Operating Agreement Subtypes

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Documents used along the form

An Operating Agreement is a vital document for any limited liability company (LLC), outlining the management structure and operational guidelines. However, it is often accompanied by other important documents that help establish a comprehensive legal framework for the business. Below is a list of common forms and documents frequently used alongside an Operating Agreement.

Articles of Organization: This document is filed with the state to officially create the LLC. It typically includes the company’s name, address, and the names of its members. It serves as the foundational document for the business.
Member Consent Forms: These forms are used to document decisions made by the members of the LLC. They can be particularly useful for actions that require unanimous or majority approval, ensuring that all members are on the same page.
Bylaws: While not always required for LLCs, bylaws can provide additional rules governing the internal operations of the company. They outline procedures for meetings, voting, and the roles of members or managers.
Membership Certificates: These certificates serve as proof of ownership for each member in the LLC. They can help clarify ownership stakes and may be necessary for certain transactions or financing arrangements.
Operating Procedures Manual: This document outlines day-to-day operational procedures and policies. It can be particularly useful for larger LLCs to ensure consistency and efficiency in operations.
Financial Statements: These documents provide a snapshot of the company's financial health. They typically include balance sheets, income statements, and cash flow statements, and are essential for both internal decision-making and external reporting.

Incorporating these documents alongside the Operating Agreement helps to create a well-rounded legal structure for the LLC. Each document plays a specific role in ensuring clarity, compliance, and effective management, ultimately contributing to the long-term success of the business.

Document Sample

Operating Agreement Template for [Your State] LLC

This Operating Agreement is crafted for the Limited Liability Company (LLC) established under the laws of the state of [Your State]. This document outlines the management structure and operating procedures for the LLC, ensuring clarity among its members.

Article I: Formation

The Members hereby form a Limited Liability Company pursuant to the laws of the state of [Your State]. The LLC is organized for the purpose of conducting any lawful business as permitted under the state statutes.

Article II: Name

The name of the LLC shall be [Insert Name of LLC].

Article III: Principal Office

The principal office of the LLC is located at [Insert Address].

Article IV: Purpose

The purpose of the LLC is to engage in the following business activities: [Insert Business Activities].

Article V: Members and Ownership Interests

The LLC shall initially have the following Members:

Name: [Member 1 Name], Ownership Percentage: [Insert Percentage]
Name: [Member 2 Name], Ownership Percentage: [Insert Percentage]

Article VI: Management

The LLC shall be managed by its Members in accordance with the voting rights specified below:

Each Member shall have voting power equal to their ownership percentage.
Decisions shall be made by a majority vote of the Members.

Article VII: Contributions

Members agree to make initial capital contributions as follows:

Name: [Member 1 Name], Contribution Amount: [Insert Amount]
Name: [Member 2 Name], Contribution Amount: [Insert Amount]

Article VIII: Distributions

Distributions of profits shall be made in accordance with each Member’s ownership percentage unless otherwise agreed upon in writing by all Members.

Article IX: Records

The LLC shall maintain complete and accurate records of all financial transactions and business activities at its principal office.

Article X: Amendments

This Operating Agreement may be amended only with the written consent of all Members.

Article XI: Indemnification

The LLC shall indemnify its Members to the fullest extent permitted by the laws of [Your State] against any expenses or liabilities incurred in connection with the LLC.

The undersigned Members hereby consent to the terms of this Operating Agreement and signify their agreement by signing below:

______________________________ [Member 1 Name] Date: _______________

______________________________ [Member 2 Name] Date: _______________