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The proof of authority of a Limited Liability Company (LLC), information about its operational framework, and the reason for stakeholders to affiliate with any a business organization lies in its operating agreement or membership agreement. (Read on to discover our best-in-class operating agreement templates.)
An operating agreement is a consolidated document that answers questions related to what, why, how, and when of the LLC under consideration. It enlists the business's organizational structure, management/voting, capital contribution, distribution, membership changes and, yes, its dissolution.Â
Every LLC aims to run uninterruptedly, avoiding membership conflicts as well as maintaining its privacy. For this, it must start with proper framing and filing of its LLC Operating Agreement. Operating agreements come in handy in stating authority, protecting identity, as well as defining operating frameworks favorable to its working. In doing this, an operating agreement template simplifies half of the job.Â
With a content-ready operating agreement template, an LLC owner or member will be guided on the format and essential components comprising this document. Our operating agreement templates in particular are 100% customizable, meaning that you only need to fill in your business details and the presentation is ready to roll.Â
In this blog, we have summarized our 5 most-loved and downloaded operating agreement templates. Check these out now and use these to file your membership agreement!
Templates for your business
Template 1: Organizational Operating Agreement Report PPT Presentation
Create a record of our organization’s operating agreement with this document report template. Allow new members and general masses to know about your company’s formation, its purpose, and aspects that concern them as prospective stakeholders using this PPT Design. Discuss the distribution of profit, capital contribution, business management, and transfers, etc under designated sections using this PPT Template that covers all bases. Grab this content-ready PPT Layout now!
Template 2: One-Page Operating Agreement Report PPT Slide
Delve into the details of your business operation and help interested joinees understand its working better with this operating agreement template. Discuss the primary all-abouts of your company such as firm name, pioneers, and purpose. Then elaborate on everything from the operating mechanism to the mode of dissolution so that newer members know what they are stepping in. Disclose this kind of critical information too via this content-ready PPT Design now. Download now!
Template 3: Operating Agreement Articles Report Template
Create an informative yet concise operating agreement of your business firm with this PPT Layout. Divide your information into articles of seven to address aspects like organization, management and voting, capital contribution, distribution, membership change, and dissolution. State the nature of your LLC and mention the sole members, presidents, etc in this one-page operating agreement template. Grab now!
Template 4: Operating Agreement Terms PPT Report Template
Bring clarity to your operating agreement with his PPT Layout. Determine major facets of your organization and share briefs on it via this tabular PowerPoint Design. Near the bottom of this PPT document, record signatures of the LLC and the newer members to be onboarded. Bring transparency in your contract by making all relevant information available. Download now.
Template 5: Operating Agreement Formation Report Presentation
Onboard new members as you acquaint them with your company’s operating agreement using this one-page PPT Template. Guide them on your business's formation, members on board, profit distribution and accounting . Use this PPT Layout to mention any miscellaneous pieces of information that need to be included and solicit and legalize their acceptance with signatures. Download now.
STICK TO YOUR WORD
Build transparency and reliance with these on-point operating agreement templates. Guarantee trust, and reaffirm the sanctity of the written word through these presentation templates.Â
PS: Is it impossible to choose the most fruitful company to invest in? Evaluate your best choice for investing by going through this blog, featuring company comparison chart templates!
FAQs on Operating Agreement
What is an operating agreement?
An operating agreement is a legal document that outlines the internal workings and structure of a Limited Liability Company (LLC). The operating agreement is typically created at the time the LLC is formed and outlines the rights, responsibilities, and obligations of the members of the LLC.
The operating agreement can cover topics, such as how the LLC will be managed, how profits and losses will be allocated, how new members can join the LLC, how members can leave the LLC, and how the LLC can be dissolved.
While operating agreements are not always a legal mandate, these are strongly recommended, as they can help to prevent disputes among members and provide a clear framework for decision-making within the LLC. Additionally, in some US states, an operating agreement is legally required in order to form an LLC.
What should be in an operating agreement?
The specific contents of an operating agreement can vary depending on the needs of the LLC, there are key provisions that have to be included in it:Â
- LLC Purpose: The operating agreement should state the purpose for which the LLC was formed.
- Member Contributions: The operating agreement should describe the contributions made by each member of the LLC and how those contributions will be treated.
- Allocations of Profits and Losses: The operating agreement should outline how profits and losses will be allocated among the members of the LLC.
- Management Structure: The operating agreement should describe how the LLC will be managed, including the responsibilities of each member and the procedures for decision-making.
- Voting Rights: The operating agreement should outline the voting rights of each member and the procedures for conducting votes.
- Membership Changes: The operating agreement should describe how new members can join the LLC and how existing members can leave or be removed from the LLC.
- Dissolution: The operating agreement should outline the procedures for dissolving the LLC, including the distribution of assets.
- Dispute Resolution: The operating agreement should include provisions for resolving disputes between members, such as through mediation or arbitration.
It is important to note that while these provisions are common in operating agreements, the specific contents of an operating agreement can vary depending on the needs of the LLC. It is recommended that businesses consult a legal professional when drafting an operating agreement to ensure that it is tailored to the specific needs of the LLC.
How do you structure an operating agreement?
When structuring an operating agreement, there are steps you can take to ensure that it is comprehensive and tailored to the needs of your LLC.Â
- Identify key members and their roles: The operating agreement should clearly identify members of the LLC and their respective roles and responsibilities.
- Determine the management structure: The operating agreement should outline the management structure of the LLC, including who will be responsible for making key decisions and how these decisions will be made.
- Define profit and loss allocations: The operating agreement should define how profits and losses will be allocated among members of the LLC.
- Establish voting rights: The operating agreement should outline the voting rights of each member and the procedures for conducting votes.
- Consult with a legal professional: It is recommended to consult with a legal professional when drafting an operating agreement to ensure that it complies with all relevant laws and is tailored to the specific needs of the LLC.
Overall, the structure of an operating agreement should be comprehensive and flexible enough to allow for changes over time. It is important to regularly review and update the operating agreement as necessary to ensure that it continues to reflect the needs of the LLC.
