An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...

A Michigan LLC operating agreement provides rules and regulations for operating the business. The state of Michigan does not impose specific guidelines regarding the contents of an LLC's operating ...

A limited liability company operating agreement is an important document that formalizes the relationships between the co-owners of the LLC. The operating agreement, which is a requirement in some ...

An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

Last Thursday, with my colleague Amanda Nelson, I taught a two-hour webinar for 36 New Hampshire lawyers, sponsored by the New Hampshire Bar Association, on how to draft operating agreements for ...

Most LLC operating agreements contain a “buyout” provision allowing the LLC or its remaining members to buy the membership interest of a departing member. Buyout provisions can be structured however ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Florida doesn’t require limited liability companies (LLCs) ...

Opinions expressed by Entrepreneur contributors are their own. Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly.

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...