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Operating Agreement Template for [State Name]

This Operating Agreement is made effective as of [Date], by and among the following parties:

  • [Member 1 Name], with an address at [Member 1 Address]
  • [Member 2 Name], with an address at [Member 2 Address]
  • [Member 3 Name], with an address at [Member 3 Address]

This agreement is established in accordance with the laws of the state of [State Name].

Article I: Formation

The Members hereby form a limited liability company (the "Company") under the name [Company Name].

Article II: Purpose

The purpose of the Company is to [describe the purpose of the LLC].

Article III: Principal Office

The principal office of the Company shall be located at [Office Address].

Article IV: Duration

The duration of the Company shall be perpetual, unless terminated according to the provisions of this Agreement.

Article V: Members’ Contributions

The initial contributions of the Members are as follows:

  • [Member 1 Name]: $[Amount]
  • [Member 2 Name]: $[Amount]
  • [Member 3 Name]: $[Amount]

Article VI: Distributions

Distributions of profits and losses shall be allocated to the Members as follows:

  • [Member 1 Name]: [Percentage]%
  • [Member 2 Name]: [Percentage]%
  • [Member 3 Name]: [Percentage]%

Article VII: Management

The Company shall be managed by [Manager Name/All Members]. Decisions shall be made by a majority vote of the Members.

Article VIII: Meetings

Meetings of the Members shall be held at least annually. Special meetings may be called as needed.

Article IX: Amendments

This Agreement may be amended only with the consent of [percentage]% of the Members.

Article X: Miscellaneous

This Agreement constitutes the entire understanding among the Members related to the Company. It supersedes any prior agreements.

Signatures of the Members below indicate their agreement to the terms of this Operating Agreement.

Signatures

___________________________

[Member 1 Name] - [Date]

___________________________

[Member 2 Name] - [Date]

___________________________

[Member 3 Name] - [Date]

Operating Agreement - Adapted for Each State

Operating Agreement Document Types

⇓ Operating Agreement PDF

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Similar forms

The Operating Agreement is an important document for a business, particularly for LLCs. It outlines the management structure and operating procedures. Several other documents share similarities with the Operating Agreement. Here are eight of them:

  • Partnership Agreement: This document outlines the terms of a partnership, including the roles and responsibilities of each partner. Like the Operating Agreement, it defines how profits and losses are shared.
  • Bylaws: Bylaws govern the internal management of a corporation. They detail the roles of directors and officers, similar to how an Operating Agreement details the roles within an LLC.
  • Shareholder Agreement: This document is used by corporations to outline the rights and obligations of shareholders. It can include provisions for decision-making and profit distribution, much like an Operating Agreement.
  • Joint Venture Agreement: This outlines the terms of a partnership between two or more parties for a specific project. It defines each party's contributions and responsibilities, similar to an Operating Agreement.
  • LLC Member Agreement: This is another term for an Operating Agreement in some contexts. It specifies the rights and duties of members in an LLC, just like the Operating Agreement.
  • Management Agreement: This document details the management structure and responsibilities in a business. It outlines how decisions are made, akin to the Operating Agreement's provisions.
  • Franchise Agreement: This agreement governs the relationship between a franchisor and franchisee. It includes operational guidelines and responsibilities, paralleling the structure of an Operating Agreement.
  • Employment Agreement: This document outlines the terms of employment for individuals within a company. It can include responsibilities and compensation, similar to how an Operating Agreement defines roles within a business.