An operating agreement sets out the rules under which your LLC operates. This document serves as a template for such an agreement.
The Operating Agreement provides the rules under which your LLC will operate and provides a mechanism for removing members of your LLC. It helps protect your limited liability status and heads off financial and management misunderstandings. It also ensures your business is governed by your own rules as opposed to default rules created by your state. This is a template for an LLC agreement and is designed to provide an outline for you to follow when formulating business or personal plans.