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 ...

LLC operating agreements frequently provide for indemnity to the LLC’s manager. This is consistent with the statutory default rule embodied by California Corporations Code section 17704.08(a), which ...

If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for tax ...

An operating agreement is a type of document commonly used for small business organized as limited liability companies. It lays out the structural and management details of the business, and is ...

Do single-member LLCs need written operating agreements? The question may seem odd, since, by definition, single-member LLCs have only one member, who thus completely controls his or her (or its) LLC.

Litigation between and among members in a limited liability company (LLC) can be, to say the least, complicated. Disputes over money usually are, but when a minority group of members believe that they ...

An LLC is not always required to have an operating agreement, but it's a bad idea to get rid of an existing one. The operating agreement is a consensus of the members on how the company should be run.

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.

Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly. However, it can easily be inaccurately written or leave out ...

It’s probably safe to guess that of New Hampshire’s 75,000 or so single-member and multi- member LLCs, only a small fraction have any written operating agreements at all, much less competently drafted ...