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Multi-Member LLC Operating Agreement

Answer a few questions to create a professional Multi-Member LLC Operating Agreement, ready to edit and sign.

Step 1 of 1514 sections · answer each, then create your document

The company

Include "LLC" or the ending your filing uses.
The state where its formation document was filed. That state's law governs this agreement.
The filing or effective date shown on the state's formation record.
Usually the formation date, or the date the members sign.
Street, city, state and ZIP code on one line.
This agreement supports two to four members.

First member

For a business, use its registered name, including "LLC" or "Inc." if it has one.
Used for written notices.

Second member

For a business, use its registered name, including "LLC" or "Inc." if it has one.
Used for written notices.

Third member

Fourth member

Contributions and ownership

What each member puts in and the percentage of the company each member owns. The percentages must add up to 100%.

The value all members agree to credit for this contribution.
Enter a number such as 50 or 33.33. All members' percentages must add up to 100.
The value all members agree to credit for this contribution.
Enter a number such as 50 or 33.33. All members' percentages must add up to 100.
No member is ever required to put in more money without every member's written consent. A loan would be repaid before distributions and would not change anyone's percentage.

Management and voting

Profits and distributions

Profits and losses are always shared by percentage interest.

Selling or transferring an interest

This is the right of first refusal period.

When a member leaves

The LLC buys out a member who dies, becomes disabled or withdraws.

Ending the company

Records and banking

Leave blank if one authorized person may approve any payment.

Liability and protection

The person must agree to repay the costs if it turns out they were not entitled to protection.

Final terms

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