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Michigan Operating Agreement Template

This Operating Agreement ("Agreement") is made and entered into as of this ____ day of __________, 20___, by and between the following members:

  • Member Name: ______________________
  • Address: __________________________
  • Email: ____________________________

Collectively referred to as "Members" or individually as "Member." This Agreement governs the operation and management of the limited liability company formed under the laws of the State of Michigan.

Article I: Formation

The Members hereby form a limited liability company ("Company") pursuant to the Michigan Limited Liability Company Act, Act 23 of 1993, as amended.

Article II: Name and Principal Office

The name of the Company shall be: ______________________.

The principal office of the Company shall be located at: ______________________.

Article III: Purpose

The purpose of the Company is to engage in any lawful act or activity for which limited liability companies may be organized in Michigan.

Article IV: Duration

The term of the Company shall commence on the date of filing the Articles of Organization and shall continue until terminated in accordance with this Agreement.

Article V: Management

  1. The Company shall be managed by its Members.
  2. Decisions shall be made by a majority vote of the Members.

Article VI: Capital Contributions

Each Member shall contribute cash, property, or services as follows:

  • Member Name: ______________________, Contribution: $_____________.
  • Member Name: ______________________, Contribution: $_____________.

Article VII: Distributions

Profits and losses shall be allocated to the Members in proportion to their respective ownership interests.

Article VIII: Indemnification

The Company shall indemnify Members against any losses unless caused by willful misconduct or gross negligence.

Article IX: Amendments

This Agreement may be amended only by a written agreement signed by all Members.

Article X: Governing Law

This Agreement shall be governed by, and construed in accordance with, the laws of the State of Michigan.

IN WITNESS WHEREOF, the undersigned Members have executed this Operating Agreement as of the date first above written.

_____________________________________

Member Signature

_____________________________________

Member Signature

⇓ Operating Agreement PDF

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Similar forms

  • Partnership Agreement: Similar to an Operating Agreement, this document outlines the roles, responsibilities, and ownership stakes of partners in a business. Both agreements help prevent disputes by clearly defining each party's contributions and expectations.
  • Bylaws: Bylaws govern the internal management of a corporation, detailing procedures for meetings, voting, and the roles of officers. Like an Operating Agreement, they establish the framework for how the entity operates.
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  • Employment Agreement: This document outlines the terms of employment for individuals within a company. It shares similarities with an Operating Agreement in that it specifies roles, responsibilities, and expectations for employees.
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  • Membership Agreement: Used in limited liability companies, this document details the rights and responsibilities of members. It parallels an Operating Agreement by defining the structure and governance of the LLC.