LLC Operating Agreement Form Template

If you're starting a limited liability company (LLC) and need a comprehensive legal template, you're in luck! At BizzLibrary.com, we offer an LLC Operating Agreement template that's professionally drafted and easy to customize to meet your business needs. Our template covers the key topics and provisions you need to establish your LLC's operating framework and protect your business interests.

What is an LLC Operating Agreement?

An LLC Operating Agreement is a legal document that outlines the ownership, management, and operational structure of an LLC. The agreement describes the rights and responsibilities of each member of the LLC and sets forth the rules for its management and operation. It serves as a binding, internal document that can help avoid confusion or disputes among members and ensure that your business runs smoothly.

Key Provisions in Our LLC Operating Agreement Template

Our LLC Operating Agreement template covers several critical provisions to ensure your LLC operates effectively and protects your interests:

• Company Information: The agreement starts with basic company information such as the LLC's name, purpose, and business address.
• Members: The agreement outlines the number of members, their names, and addresses. It also specifies how members can join or leave the LLC.
• Member Management: The template includes provisions for the management and operation of the LLC, such as the voting rights and responsibilities of each member, member meetings, and the role of the LLC manager (if applicable).
• Capital Contributions and Ownership: The agreement defines how much each member contributes to the LLC's initial capital and their ownership interest in the company. It also specifies how profits and losses will be allocated among members.
• Transfer of Interest: The agreement sets forth the procedures and requirements for transferring ownership interest from one member to another or selling an interest to a third party.
• Distribution of Profits and Losses: To help avoid disputes, the agreement clearly outlines how profits and losses will be distributed among members.
• Term and Termination: The agreement specifies the duration of the LLC and under what conditions it may be terminated.

Customize Your Operating Agreement Today!

Don't leave your LLC's operating framework up to chance. Download our LLC Operating Agreement template in DOCX format today and start customizing it to meet your business needs. Whether you need to add, modify, or delete provisions, our template makes customization easy and straightforward.

Visit BizzLibrary.com now to download your LLC Operating Agreement template and explore our wide range of legal and business document templates.