{"id":4600,"date":"2021-09-08T15:20:49","date_gmt":"2021-09-08T20:20:49","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/business-operations\/what-is-an-llc-operating-agreement.html"},"modified":"2024-06-06T03:42:13","modified_gmt":"2024-06-06T08:42:13","slug":"what-is-an-llc-operating-agreement","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/business-operations\/what-is-an-llc-operating-agreement.html","title":{"rendered":"What Is an LLC Operating Agreement?"},"content":{"rendered":"\n
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What Is an LLC Operating Agreement?<\/h1>\n
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\n By Tim Kelly, J.D.<\/a> | Legally reviewed by J.P. Finet, J.D.<\/a>\n | Last updated\n
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Limited liability companies (LLCs)<\/a> can be a safe and practical business structure. Operating agreements provide stability and are essential to LLC formation<\/a>. They are like a corporation’s bylaws<\/a> because they guide the business entity and document its status. They are roadmaps for managers and owners to follow.<\/p>\r\n

Not all states require LLCs to have operating agreements. Still, it is better to have one than not. A good operating agreement offers flexibility and can avoid issues down the road.<\/p>\r\n

LLC operating agreements are not filed with the state. Typically, they are stored in a business’s minute book for safekeeping.<\/p>\r\n

We make business formation EASY. Click here to start your free LLC.<\/a><\/b><\/p>\r\n

Key Takeaways<\/h3>\r\n