LLC Operating Agreement for Multimember Company | USA

Set up a limited liability company in the U.S. under this LLC Formation Agreement between the members of the company.

• This is an informal preliminary agreement which the members can put in place so they can proceed with filing Articles of Organization and forming the company, prior to entering into a formal operating agreement.
• The members agree that this is a preliminary agreement only and that they intend to execute a more complex agreement within a reasonable time.
• The members will manage the business of the LLC and will vote according to their proportionate interests.
• The members are free to carry on other businesses as long as they do not compete or conflict with the business of the LLC.
• The members agree that disputes will be settled by arbitration.
• The LLC Formation Agreement can be used throughout the United States.

Make sure all members sign the Agreement before you file your Articles and organize the company. Buy, download, start using the form right away.

• Each member represents that he/she has acquired the membership interest in the LLC for investment purposes only.
• The member has the knowledge and experience necessary to evaluate the economic risks of acquiring the membership interest.
• The member understands that he/she may bear the risk of an investment in the company for an indefinite period of time.
• Only the LLC has the right to register Membership Interests, but it is under no obligation to do so.