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Manager managed llc operating agreement template

Operating Agreement for Member Managed Limited Liability Company - Long Form 2026

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The document is a Long Form Operating Agreement for a Member-Managed Limited Liability Company (LLC), outlining the formation, management, and operational guidelines of the LLC. It includes definitions of key terms, details on capital contributions, member interests, profit and loss allocations, and provisions for meetings and amendments. The agreement establishes the rights and responsibilities of members, procedures for admitting additional members, and conditions for dissolution and liquidation of the company. It emphasizes compliance with state laws and provides a framework for financial management and tax matters.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the date of the agreement and the name of your limited liability company (LLC) in the designated fields.
Fill in the names and addresses of all members involved in the LLC. Ensure accuracy as this information is crucial for legal purposes.
Proceed to Article I, where you will define key terms relevant to your agreement. Carefully input definitions as they pertain to your specific situation.
In Article II, specify the formation details, including state laws governing your LLC and any necessary registered agent information.
Continue through each article, filling out sections on capital contributions, member powers, management structure, and tax matters as applicable to your LLC's operations.
Review all entries for accuracy before saving or exporting your completed document. Utilize our platform’s features for easy editing and signing.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Can I write my own operating agreement for my LLC?

An Operating Agreement makes important company processes clear, including how to distribute profits and losses and which members have the authority to bind the company to legal contracts. As such, multi-member LLCs can use this agreement to reduce the chances of disputes between members.

What if an LLC has no operating agreement?

Every LLC that is registered in the states of California, Delaware, Maine, Missouri, and New York is legally required to have an operating agreement.

How to write an operating agreement for a multi-member LLC?

A standard operating agreement includes the following: What the name of the LLC will be. A certificate of formation by the members. (Gives them proof that they did indeed form an LLC). The registered office and registered agent of the LLC. What the term of the LLC shall be.

What is the operating agreement for an LLC member?

By default, most states assume an LLCs term to be at-will or perpetual, meaning itll continue to exist indefinitely unless the members decide to dissolve it. However, some business owners may choose a specific duration for their LLC, especially when embarking upon a time-sensitive project or joint venture.

Can I write my own LLC operating agreement?

Once you (and the other LLC Members, if applicable) sign the Operating Agreement, then it becomes a legal document. Can I write my own Operating Agreement? Yes, but we recommend using an Operating Agreement template. An Operating Agreement is a legal document.

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Who can write an operating agreement for an LLC?

Default State Laws Apply: Without an operating agreement, your LLC is automatically subjected to the default state laws where the LLC was formed. These laws may not suit the specific needs of your business or its members, potentially leading to unfavorable governance and operational structures.