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Operating Agreement LLC


Overview
- This is an agreement of the members to regulate the affairs of the company and the conduct of its business, and to govern relations among the members, managers, and company.
- A written operating agreement reduces or remove any possibility of misunderstanding as to how the company is to be managed. 
- This is an internal document of the limited liability company.  It is not filed with the state but is maintained as a business record by the limited liability company.  

When You Need It
- Used as an agreement of the members on how to regulate the affairs of the company and conduct of its business, and to govern relations among the members, managers, and company.  
- In some states it does not need to be in writing.  However, the most prudent method of regulating the affairs of the company would require that the agreement be in writing.   


Getting Started

You will need:
- Name of the limited liability company.
- Location of the registered office of the limited liability company.
- Details of when the annual meetings are to occur.
- Details regarding the members of the limited liability company.
- To review this document to become familiar with the proposed rules and regulations which will govern your limited liability company, and change any rules which do not fit you particular situation.
- Consult with an attorney if you make substantial changes to this document to make sure you are operating within the law of your State.

When to Review and Revise 
- To correct the information contained in the agreement.
- To draft another Operating Agreement.