PLLT Virtual Consultants will create an official operation agreement. Creating this document will require information about your business structures and partners. This document will be complete within 5 business days. We will contact you directly when purchase is complete. Please allow 3 business days due to high demand.
The Operating Agreement of an LLC is the contract entered into between all members (aka Owners) of the LLC. Each LLC members are generally given wide latitude to determine how they want their company ran.
Without an Operating Agreement for your LLC, your business is subject to the "default rules" of the state in which the LLC is organized. These "default rules" are set by the state. Allowing the state to dispose of your business asset is not what you want for your LLC.
An operating agreement is a key document used by LLCs because it outlines the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners. Once the document is signed by the members of the limited liability company, it acts as an official contract binding them to its terms. - SBA
- Percentage of members' ownership
- Voting rights and responsibilities
- Powers and duties of members and managers
- Distribution of profits and loses
- Holding meetings
- Buyout and buy-sell rules (procedures for transferring interest or in the event of a death)