Fillable Form LLC Operating Agreement Template

What is an LLC Operating Agreement?

An LLC Operating Agreement is a document that sets forth the limited liabilities of a limited liability company (LLC) as set by the members. It contains the rules, regulations, and provisions required to manage or operate a business or entity.

What is a Limited Liability Company?

An LLC is a business structure in the United States that is much cheaper to form and run. In this structure, members have an indirect relationship with the company that limits their liabilities to it. It also possesses the qualities of a partnership and corporation in terms of profit and losses distribution.

How to fill out an LLC Operating Agreement?

LIMITED LIABILITY COMPANY OPERATING AGREEMENT OF

Enter the company name.

FORM IN THE STATE OF

Enter the state where the LLC Operating Agreement is formed.

ON

Enter the date when the LLC Agreement was entered into.

SINGLE-MEMBER LLC OPERATING AGREEMENT

Mark the box if it is an Operating Agreement of a single-member LLC.

Entered into by and between

Enter the company name.

A

Enter the state where the LLC Operating Agreement is formed.

And

Enter the name of the sole proprietor.

Address

Enter the address of the sole proprietor.

MULTI-MEMBER LLC OPERATING AGREEMENT

Mark the box if it is an Operating Agreement of a multi-member LLC.

Entered into by and between

Enter the name of the members.

Address

Enter the address of the members.

State of

Enter the state where its laws will govern the LLC Operating Agreement.

1. Name and Principal Place of Business

Enter the information of the members' agreement regarding the company’s name and principal place.

The name of the company shall be

Enter the name of the company.

The principal place of the business shall be at

Enter the principal place where the company will operate.

City of

Enter the city where the company will operate.

State of

Enter the state where the company will operate.

2. Formation

The company was formed on

Enter the date upon filing the Articles of Organization with the Secretary of State. The Articles of Organization contain the initial statements of a business required to form a limited liability company.

State of

Enter the state where its laws govern the LLC Operating Agreement.

6. Member Capital Contributions

Single Member LLC

Mark the box if the member capital contribution of the company constitutes the rules for a single-member LLC. The sole proprietor may make capital contributions but is not obligated to.

Multi-Member LLC

Mark the box if the member capital contribution of the company constitutes the rules for a multi-member LLC. If so, enter the capital amounts contributed to the company.

7. Distributions

SINGLE MEMBER

Mark the box if the company constitutes the rules of a single-member LLC in distributing the percentage of net profits and losses. In a single-member LLC, the capital account must reflect the capital contributions of the owner.

MULTI-MEMBER

Mark the box if the company constitutes the rules of a multi-member LLC in distributing the percentage of net profits and losses. If so, enter the name of the members and the percentage interest of the accounts maintained for them.

8. Books, Records and Tax Returns

SINGLE MEMBER

Mark the box if the LLC Operating Agreement is for a single membership. This term implies that the company must maintain complete and accurate books and records of its business and affairs and must be taxed as a sole proprietorship.

MULTI-MEMBER

Mark the box if the LLC Operating Agreement is for multiple memberships. This term suggests that members must maintain complete and accurate books and records of the company transactions.

10. Management of the Company

State of

Enter the state where its laws govern the LLC Operating Agreement.

SINGLE MEMBER

Mark the box if the business is a single-member LLC. If so, enter the name of the sole member of the company.

MULTI-MEMBER

Mark the box if the business is a multi-member LLC. The term states that the aspects of managing the company depend on the consent and decision among members.

In the excess of $

Enter the excess numbers of the borrowed money on behalf of the company, lent company funds or any assets to any third party, reserves for working capital repairs, replacements, improvements, or other purposes, and paid judgments against the company such as its debts and demands.

MULTI-MEMBER: Meetings of Members

Mark the box if it applies to the company. If so, enter the date of the members' annual meeting.

May be called by any

Enter the number of members who are allowed to call for special meetings.

MULTI-MEMBER: Assignment of Interests

Mark the box if your company is a multi-member LLC and the assignment of interests depends on the unanimous decisions of the entire members.

SINGLE MEMBER: Ownership of Company Property

Mark the box if the company is a single-member LLC. This term states that the company shall be considered as the sole proprietor's entity.

MULTI-MEMBER: Right of First Refusal

Mark the box if the company is a multi-member LLC. This term states that a member must sell his or her interest in the company to the other members. The offer and selling process must be outlined in writing so the other members could vote for their decision.

MULTI-MEMBER: Addition of New Members

Mark the box if it is a multi-member LLC and the company is allowed to add new members based on the unanimous decision of the existing members.

MULTI-MEMBER: Withdrawal of Events

Mark the box if the company is a multi-member LLC. This term suggests that if a member withdraws from the company, the other members may appoint necessary actions regarding the withdrawal.

11. Dissolution and Liquidation

SINGLE MEMBER

Mark the box if the business is a single-member LLC. This term states that the company shall be dissolved if it passes the events written in the Articles of Organization. The dissolution of the company is also based on the decisions of the sole proprietor.

MULTI-MEMBER

Mark the box if the company is a multi-member LLC. This term states that the company shall be dissolved through the unanimous vote of the members to terminate the business or the failure to elect a new member and decide to continue the company.

12. Representations of Members

MULTI-MEMBER

Mark the box if the representation of members is deemed to have interest in the company using their respective accounts for investment purposes only.

13. Certificates Evidencing Membership

MULTI-MEMBER

Mark the box if it applies to the company. This term states that the member must accomplish a Certificate of Membership issued by the company to back up the interest. If so, enter the name of the company and the effective date of the Certificate of Membership.

14. Notices

MULTI-MEMBER

Mark the box if it applies to the company. This term suggests that any notices, demands, requests, and other communications among members must be set forth in a written statement.

15. Arbitration

MULTI-MEMBER

Mark the box if it applies to the company. This term suggests that any disputes, controversies, and other claims must be submitted and settled by the arbitration of the company's place of business.

16. Amendments

MULTI-MEMBER

Mark the box if it applies to the company. This term states that the LLC Operating Agreement must not be amended, altered, or waived unless there is a unanimous decision for it.

18. Miscellaneous

Enter the state where its laws will govern the LLC Operating Agreement and the rights and liabilities of the members.

Agreement this

Enter the execution date of the LLC Operating Agreement.

LLC

Enter the name of the company.

By

Enter the name of the individual who filed the LLC Operating Agreement.

Member Signature Over Printed Name

Enter the members’ signatures over their printed names.

What is a single-member LLC?

A single-member LLC has only one member considered as the sole proprietor. He or she has complete ownership of the LLC as his or her entity or business.

What is a multi-member LLC?

A Multi-member LLC has multiple owners called "members." The members share interests in the company, which enables them to share control over it. The decision-making in a multi-member LLC depends on the unanimous votes among members.