LLC Operating Agreement
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- Product Details
- It helps ensure that courts will respect your personal liability protection by showing that you have been conscientious about organizing your LLC.
- It sets out rules that govern how profits will be split up, how major business decisions will be made, and the procedures for handling the departure and addition of members.
- It helps to avert misunderstandings among the owners over finances and management.
- It allows you to create your own operating rules rather than being governed by the default rules in your state's LLC laws, which might not be to your benefit.
- It will authorize one or more members of the LLC to deposit and withdraw funds in an LLC bank account, an important first step in starting your new business!
Your operating agreement is an important part of your LLC formation. Here's why:
If you haven't formed an LLC yet, the quickest, easiest way to form an LLC is to use Nolo's Online LLC Application.