Terms explained
Explaining an operating agreement
A written agreement on ownership and management that the LLC keeps for itself.
Snapshot
- Sometimes written as
- Company agreement in some states
- Next to read
- Member, and also Articles of organization, and also Organizer
Why it matters in practice
Draft it as you form the LLC and revise it when ownership changes.
Pages that use this term
See it applied here: Starting an LLC in each state, Agent requirements in each state, Foreign LLC filings in each state.