An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

Kelly Main is a Marketing Editor and Writer specializing in digital marketing, online advertising and web design and development. Before joining the team, she was a Content Producer at Fit Small ...

We are forming a limited liability company with multiple owners. Does our LLC need an operating agreement and, if so, what makes one effective? Yes, you should have one. An operating agreement, which ...

Florida doesn’t require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you’re forming your LLC in the Sunshine State, it’s still a good idea to have one ...

In Texas, your operating agreement (also called a "Company Agreement") is the defining document that governs how your LLC operates. Unlike corporations, which must follow rigid state-imposed ...

A Michigan LLC operating agreement provides rules and regulations for operating the business. The state of Michigan does not impose specific guidelines regarding the contents of an LLC's operating ...

A new California law governing limited liability companies (New Law) becomes effective January 1, 2014, (Effective Date) and replaces the Beverly-Killea LLC Act (Old Law). The New Law governs every ...

An operating agreement, even a simple one, can save you time and effort by eliminating uncertainty during the course of operating a limited liability company, or LLC. Not all states require operating ...