LLC Operating Agreement

Purpose

An operating agreement describes an LLC’s governance and the arrangements among its members. Its provisions depend on the company and its circumstances.

Options

An operating agreement can address management, member rights, transfers, distributions, and other governance choices. Requirements and configurable provisions are different: a requirement comes from the applicable law, while an option is a choice the generated document actually supports. The option inventory will be published after generated output verification.

Standards

The LLC Operating Agreement Standards explain where state-specific requirements belong.

Review the requirements in LLC Operating Agreement Standards.

Related Documents and Flows

An operating agreement may be part of later LLC governance work. It is separate from the relocation instruments listed in the Domestication Flow.