{"id":5503,"date":"2021-07-16T12:40:40","date_gmt":"2021-07-16T17:40:40","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-law\/smallbusiness\/starting-a-business\/sample-llc-operating-agreement.html"},"modified":"2026-05-15T00:28:00","modified_gmt":"2026-05-15T05:28:00","slug":"sample-llc-operating-agreement","status":"publish","type":"page","link":"https:\/\/www.findlaw.com\/smallbusiness\/starting-a-business\/sample-llc-operating-agreement.html","title":{"rendered":"Sample LLC Operating Agreement"},"content":{"rendered":"\n
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Sample LLC Operating Agreement<\/h1>\n\n
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\n By Kimberly Lekman, Esq.<\/a> | Legally reviewed by Catherine Hodder, Esq.<\/a>\n | Last updated\n
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\n \n <\/i>\n Legally Reviewed\n <\/summary>\n\n
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This article has been written and reviewed for legal accuracy, clarity, and style by FindLaw\u2019s team of legal writers and attorneys<\/a> and in accordance with our editorial standards<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n\n

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The last updated date refers to the last time this article was reviewed by FindLaw or one of our contributing authors<\/a>. We make every effort to keep our articles updated. For information regarding a specific legal issue affecting you, please contact an attorney in your area<\/a>.<\/em><\/p>\n\n <\/div>\n <\/details>\n<\/section>\n\n\n

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An LLC operating agreement is a contract between members to outline the company\u2019s financial and management structure. This agreement covers membership interest and management of the company such as if it is a member-managed or manager-managed LLC.<\/p>\n\n <\/div>\n\n\n\n

An LLC operating agreement<\/span>\u00a0is a legal document<\/span> that is similar to corporate bylaws. It is a\u00a0contract<\/a>\u00a0that allows Limited Liability Company<\/span> (LLC) members to agree on a variety of important issues.<\/p>\n

These include things like the LLC\u2019s operation, ownership,\u00a0finances<\/a>, and more. Without an operating agreement<\/span> your LLC<\/a> follows the default LLC rules of your state. Those rules may not be ideal for your LLC.<\/p>\n

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When To Create Operating Agreements<\/span><\/h2>\n

The best policy is to create your LLC operating agreement<\/span><\/a> when you\u00a0start your business<\/a>. But if all members agree, you can still create an operating agreement<\/span> if your LLC is more mature.<\/p>\n

The following guide will help you understand the key provisions in an LLC<\/a> operating agreement<\/span>.<\/p>\n

Is an LLC Operating Agreement<\/span> Legally Required?<\/h2>\n

Not all states require an LLC<\/a> operating agreement<\/span>. States that legally require them include California, Missouri, Nebraska, Maine, Delaware, and New York. But\u00a0state laws<\/span><\/a>\u00a0are subject to change. Contact your Secretary of State<\/span> to learn more about your requirements.<\/p>\n

Even if your state does not require an operating agreement<\/span>, it is still a good idea to have one. The U.S.\u00a0Small Business Association<\/a>\u00a0(SBA) recommends that all LLCs create an operating agreement<\/span> even if it is not required in their state.<\/p>\n

Your LLC could need an operating agreement<\/span> for a variety of reasons:<\/p>\n