For example, some investors require access to an LLC’s operating agreement before agreeing to an investment. As such, the LLC may miss out on key provisions without an operating agreement in place.

For example, without an operating agreement members of a Michigan LLC must divide company profits and losses according to ownership interest in the business.

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 ...

Commentary Operating Agreements: Why They Matter and What to Include It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure ...

QUESTION: What is an LLC operating agreement, and what provisions does it typically include? Know the Law is a biweekly column sponsored by McLane Middleton. Questions and ideas for future columns ...

Florida doesn’t require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you’re forming your LLC in the Sunshine State, it’s still a good idea to ...