An LLC is not always required to have an operating agreement, but it's a bad idea to get rid of an existing one. The operating agreement is a consensus of the members on how the company should be run.

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

In Texas, your operating agreement (also called a "Company Agreement") is the defining document that governs how your LLC ...

A limited liability company's partnership operating agreement is an internal document that governs the company. The operating agreement establishes the roles and responsibilities of the LLC's members ...

If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for tax ...

Do single-member LLCs need written operating agreements? The question may seem odd, since, by definition, single-member LLCs have only one member, who thus completely controls his or her (or its) LLC.

It’s probably safe to guess that of New Hampshire’s 75,000 or so single-member and multi- member LLCs, only a small fraction have any written operating agreements at all, much less competently drafted ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

An operating agreement is a foundational legal document used by limited liability companies (LLC) to outline the rules and regulations by which the company and its owner(s) will operate or function.

This article, written by litigators, is intended to inform drafters of the need for clearly delineated rights to indemnification, on one hand, and fee advancement on the other. It surveys New York's ...

We have received numerous comments from administrators that an attorney has recommended the involvement of a valuator during the formation of a surgery center. While we do not believe the involvement ...

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