[shortcode-variables slug="sc-page-title"]

What you need to know about
[shortcode-variables slug="sc-page-title"]



An LLC operating agreement provides a framework for the organization, operation, and structure of a limited liability company.

Uses

  • Starting a new limited liability company.
  • Creating a structured organizational framework for an existing limited liability company.

Overview

Companies are controlled by a system of rules, practices, and processes that are either legally mandated or described in their formative documents. In order to ensure that the needs of all these the various parties involved in the operation of a limited liability company are met, business owners may want to consider using an LLC operating agreement.

An LLC operating agreement sets out the structure, manner, and procedure by which a limited liability company should run. An LLC operating agreement is typically drafted at the time a new LLC is formed, but limited liability companies can create operating agreements subject to the review and approval of their members.

Because they are specific to the business operations of a particular company, LLC operating agreements can vary greatly. However, they typically cover topics related to the purpose of the company, its initial members, how management decisions are made, and what resources will be necessary to carry out day-to-day business operations. An LLC operating agreement can be amended, but only according to the terms set forth in the original agreement.

Creating an LLC operating agreement can be an important part of early business development. These types of formative documents pave the way for certainty and stability in future operations, which is important for attracting clients and investors. As a result, all limited liability companies should consider developing LLC operating agreements regardless of whether they are required to do so by the laws of their jurisdiction.

Legal is hard.
Let’s tackle it together.

Speak to one of our Legal Pros and discover how we can help you get your [shortcode-variables slug="sc-page-title"] reviewed by an experienced contract review lawyer.
Let's Talk

You may like these too

Freedom of Information Appeal

When to use Freedom of Information Appeal There are times when Americans need to obtain information held by government agencies that is not easily accessible as a matter of public record. At these times, individuals, businesses and organizations may be able to request certain eligible information governed by the Freedom of Information Act. Unfortunately, these […]

FBI – CIA Records Request

When to use FBI – CIA Records Request Americans are entitled to obtain certain government records related to their personal interests. For example, the Federal Bureau of Investigation and the Central Intelligence Agency are both compelled, under certain circumstances, to turn some records kept on Americans over to those individuals upon formal request. Certainly, the […]

Confirmation of Enrollment

When to use Confirmation of Enrollment Are you getting ready to enroll in college courses? Or is your child about to transition from high school to college? In either event, you will likely need to obtain a confirmation of enrollment from the college in question to have on file. Why do you need to confirm […]

Estate Planning Worksheet for Single People

When to use Estate Planning Worksheet for Single People The process of creating an estate plan can be intimidating. It is a complex process that compels each individual to answer some tough questions. In addition, everybody’s expectations, priorities, needs and concerns are different. Thankfully, worksheets created to help individuals prepare for the estate planning process […]

Transcript Request

When to use Transcript Request It is generally a good idea to request an official transcript from your high school and any additional educational institutions you have attended as an adult in order to have these documents on file. If you decide to attend another school or apply for any number of jobs, you will […]

Estate Planning Worksheet for Married People

When to use Estate Planning Worksheet for Married People The process of estate planning can be understandably intimidating. For starters, it can be challenging to know how to begin. Every couple’s circumstances, priorities, property, expectations and concerns are different. Thankfully, worksheets designed to prepare couples for the estate planning process are often quite helpful when […]