LLC Operating Agreement

Gather all relevant information, including the LLC’s address, main business activity, member capital contributions, and agreed distribution of profits.

Use the information you collected to complete the operating agreement. We make this easy by guiding you each step of the way and helping you to customize your document to match your specific needs. The questions and information we present to you dynamically change depending on your answers and the state selected.

It is always important to read your document thoroughly to ensure it matches your needs and is free of errors and omissions. After completing the questionnaire, you can make textual changes to your document by downloading it in Microsoft Word. If no changes are needed, you can simply download the PDF version and sign. These downloads are available by navigating to the Documents section of your account dashboard. When signing the document, be sure to follow any additional instructions related to signing and witnessing the document. Any such instructions will either be located next to the signature line or in the instructions attached at the end of the document. When using a notary, you must wait to sign the document until they are present.

At a minimum, all parties that sign the document should receive a copy once it is fully executed (everyone has signed). Other interested parties may need or want copies as well. Be sure to store your copy in a safe location. It is a good idea to keep both a physical and electronic copy.

It is easy to forget the ins and outs of your operating agreement. Periodically reviewing it will help you stay familiar with any responsibilities or requirements so that you can determine when it needs changes or additions. As your policies and membership change, you will need to update your operating agreement using an LLC operating agreement amendment. Typically, employers do this every two or three years.

Completing additional documents will help protect the company and its owners from liability. For instance, an LLC membership admission agreement will help your LLC officially bring new members on board and ensure that the company fairly integrates the new members and their valuable contributions. Your LLC should also use resolutions at all important meetings to clearly and formally document the decisions being made. LLCs often need to show outside investors and potential partners the agreed resolutions.