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Sample Operating Agreement for Professional Limited Liability Company PLLC - Arkansas 2026

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The document is a sample operating agreement for a Professional Limited Liability Company (PLLC) in Arkansas. It outlines the formation, management, and operational guidelines of the PLLC, including member contributions, profit distribution, voting rights, and procedures for membership changes. The agreement emphasizes that all members must be licensed to practice a specified profession in Arkansas and includes provisions for indemnification and liability limitations for members and officers. Additionally, it details the process for dissolution of the PLLC and compliance with applicable laws.

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the name of your profession where indicated after 'PRACTICE OF'. This personalizes the agreement to reflect your specific professional services.
In the section titled 'Formation of PLLC', enter the name of your PLLC and the date of formation. Ensure that this aligns with your Articles of Organization filed with the Arkansas Secretary of State.
Complete the 'Members' section by listing all initial members along with their capital contributions and percentage interests in the PLLC.
Proceed to fill out management details, specifying whether members will manage directly or appoint managers. Include names and roles as necessary.
Review sections on contributions, profits, losses, and distributions to ensure they accurately reflect your intended financial arrangements among members.
Finally, ensure all members sign and date the agreement at the end, confirming their acceptance of its terms.

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What is the difference between an LLC agreement and an operating agreement?

The LLC operating agreement, also known as an LLC agreement, establishes the rules and structure for the LLC and can help address any issues that arise during business operations. Most states have default provisions that address many of these difficulties, but the operating agreement can override these presumptions.

How do I set up a PLLC in Arkansas?

Steps for Creating an Arkansas Professional Limited Liability Company Choose a name for your Arkansas PLLC. Select an Arkansas registered agent. Create an Arkansas operating agreement for the PLLC. Handle your Arkansas PLLC tax obligations. Obtain Arkansas business licenses and permits.

Is PLLC and LLC the same?

Haman, Esq. A professional limited liability company, or PLLC, is a specialized type of LLC used by certain licensed professionals in many states. A limited liability company, or LLC, is a particular way of organizing the structure of a business.

arkansas llc operating agreement template

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What should an operating agreement include?

The functionality of internal affairs is outlined in the operating agreement including but not limited to: Percentage of members ownership. Voting rights and responsibilities. Powers and duties of members and managers. Distribution of profits and loses. Holding meetings.

Do you have to have an operating agreement for an LLC in Missouri?

In addition to articles of organization, Missouri statute requires all limited liability companies to have an operating agreement.

How do you write a simple operating agreement?

How to Write an Operating Agreement Step by Step Step One: Determine Ownership Percentages. Step Two: Designate Rights, Responsibilities, and Compensation Details. Step Three: Define Terms of Joining or Leaving the LLC. Step Four: Create Dissolution Terms. Step Five: Insert a Severability Clause.

Can you write your own operating agreement?

Get together with your co-owners and a lawyer, if you think you should (its never a bad idea), and figure out what you want to cover in your agreement. Then, to create an LLC operating agreement yourself, all you need to do is answer a few simple questions and make sure everyone signs it to make it legal.