Operating Agreement

What is an operating agreement ?

An Operating Agreement is a legal document that describes the ownership and duties of the members of an LLC (Limited Liability Company). This agreement allows you to establish the financial and labor relationships between business owners (members) and between members and managers.

Despite being an important and valuable part of a company's formation, the Operating Agreement is not a document that states require LLCs to file.

Instead of filing this document with the Secretary of State, companies should retain their written and signed operating agreements along with other important company documents.

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