An Operating Agreement is an internal document that outlines how your LLC is owned and run — member ownership percentages, roles, voting rights, and what happens if a member leaves. Most states don’t legally require one, but banks and courts often expect to see it.
What Is an Operating Agreement?
A written agreement among LLC members establishing ownership structure, management responsibilities, profit/loss allocation, and procedures for adding or removing members.
Who Is It For?
Any LLC, but especially multi-member LLCs where clear expectations upfront prevent disputes later, and single-member LLCs that want documentation reinforcing the separation between owner and business.
Why It Matters
Without an Operating Agreement, your LLC defaults to your state’s standard rules, which may not reflect what you and your co-owners actually intend. Banks frequently request this document to open a business account.
What Fort Filing Helps With
What’s Included
- Preparation of an Operating Agreement based on your ownership structure and preferences
- Delivery of a signed-ready document
What’s Not Included
- Legal review for complex, multi-party ownership disputes or unusual structures (recommend an attorney for these)
Requirements
Member names and ownership percentages, management structure (member-managed or manager-managed), and any specific provisions you want included.
Important Notes
Fort Filing is not a government agency, law firm, CPA firm, or bank. We assist with the filing and administrative process only; we do not provide legal, tax, or accounting advice, and we cannot guarantee government approval or processing timelines.
FAQs
Is an Operating Agreement legally required?
Most states don’t require one by law, but banks and courts commonly expect to see it, and it protects your liability shield by demonstrating your LLC operates as a distinct entity.
Can I change the Operating Agreement later?
Yes, typically by member agreement following whatever amendment process the document itself specifies.
Request a Quote