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Sample Operating Agreement for Professional Limited Liability Company PLLC - Indiana 2025

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The document is a sample operating agreement for a Limited Liability Company (LLC) specifically designed for state-licensed professionals in Indiana. It outlines the formation, management, and operational procedures of the LLC, including member contributions, profit distribution, voting rights, and provisions for membership termination. The agreement emphasizes the need for compliance with Indiana laws and provides guidelines for decision-making processes among members.

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How do I know if I have an operating agreement for my LLC?

The operating agreement is a legally binding document that is filed internally and kept at the businesss physical location. The operating agreement is not filed with the state. Although it is not a requirement to have in most states, it is considered good business practice to have an operating agreement for the LLC.

How do I get my LLC operating agreement?

How to create an LLC operating agreement in 9 steps Decide between a template or an attorney. Include your business information. List your LLCs members. Choose a management structure. Outline ownership transfers and dissolution. Determine tax structure. Gather LLC members to sign the agreement. Distribute copies.

Can I write my own operating agreement for my LLC?

The good news is that youre free to write your operating agreement in any way that you wish. There arent any legal requirements regarding what you must include in the agreement. Drafting the best operating agreement for your LLC simply means tailoring it to your businesss specific needs.

Does a PLLC have an operating agreement?

An operating agreement is a contract that the members of an LLC or PLLC unanimously adopt to govern various aspects of the business. It is distinct from the articles of organization, which are the documents filed with the state to establish the legal entity.

Is an LLC agreement the same as an LLC 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. For multi-member LLCs, this document controls the relationship among the members (owners).

indiana operating agreement

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Does Indiana require an LLC operating agreement?

Indiana state law does not mandate that LLCs adopt an operating agreement. Indiana State Code 23-18-4-5 states that LLCs may enter into an operating agreement but does not require them to do so. Even so, it is in your companys best interest to have a written operating agreement.

Is an operating agreement the same as an LLC agreement?

Operating agreements reinforce the limited liability protection of an LLC. Because they delineate the LLC as a separate legal entity and define its adherence to corporate formalities, they can protect members from personal liability for the LLCs legal obligations and debts.