Summary
It is important to create an operating agreement to separate your LLC from you as an individual, even if you are the sole owner (“member”) of your limited liability company (LLC). Without the formality of an agreement, the LLC would look a lot like a sole proprietorship -- which does not limit your personal liability for business debts.
The operating agreement for an LLC is similar to the bylaws of a corporation.
Important to Know:
- If your LLC has two or more members, don’t use this agreement. Instead, see Form Your Own Limited Liability Company or LLC Maker.
- You’ll also need to prepare "articles of organization," a public document you file with the state (the exact name varies from state to state). You’ll also need to prepare articles of organization, a public document you file with the state (the exact name varies from state to state). Prepare your articles of organization easily using Nolo's Form Your Own Limited Liability Company or LLC Maker.
Why Use Nolo Documents?
Our downloadable forms are always the most current available -- and they provide the plain-English legal and business information, advice and alerts you need to use them effectively.
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