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It is highly recommended that all LLCs have an operating agreement. There are six states that legally require LLCs to keep an operating agreement: California, Delaware, Maine, Missouri, Nebraska, and New York.Does every LLC need an operating agreement?
No state requires an LLC to have an Operating Agreement. Yet, it’s an essential document for every LLC, no matter how small the business or how it’s managed. The Operating Agreement is the only document that governs how the LLC will be managed and run.Are LLCs required to have an operating agreement?
An operating agreement is an agreement among limited liability company (“LLC”) Members governing the LLC’s business, and Member’s financial and managerial rights and duties. Many states in the United States require an LLC to have an Operating Agreement.