13 Free Sample Operating Agreement Templates

Download these 13 Free Sample Operating Agreement Templates to help you prepare your own agreement effectively.

The operating agreement is a type of an agreement which is signed between the members of limited liability company LLC who govern the LLC business, and the financial and managerial rights of the members. There are many states who want to have an operating agreement. they need to get LLC before they sign this agreement. the functionality of the operating management is quite similar to corporate by law. If we consider only single member LLC’s, the operating management declares that the specific member has selected the company for himself. Operating agreement is sometimes used in courts that there is a separation between the LLC structure and the individual owner. In this way, the owner will be able to prove that he is separate from the entity through the documentation.

Operating Agreement Format Guidelines

The LLC companies are made very flexible in nature and the main role of the operating agreement is to define the rights, obligations and duties of the members working in limited liability Company. The responsibilities of the members include the distribution of profit, capital account, membership interests etc. The main components that should be included in the operating agreement are structure of equity, capital accounts, profit and loss allocation, management, voting, anti-dilution protections as well as the limitations on liability.

It is not secure to run a LLC without having any operating agreement. The limited liability status gets protected with the help of operating agreement. It also makes sure that the person is running his business on his rules rather on the rules defined by the state and also handles all the misunderstandings. The course also respects the limited personal liability of the person when he has one operating agreement. The use of operating agreement becomes very important in one person LLC, where the LLC looks like sole proprietorship without the use of the operating agreement.

Using Sample Operating Agreement Templates

All the rules of the LLC are set by the states. These rules are called the default rules which are obligatory to follow by everyone. Some other rules can also be designed in one’s LLC if they are defined in the operating agreement.

The owners of the LLC have to make some contributions to the business in order to start it well. These contributions can be in the form of money, capital or property. In return, the assets of the LLC give the percentage of ownership to the people. These contributions are the main part of the operating agreement and when they are included in this agreement, they provide the actual security to everyone whoever has invested in the business.

There should be an inclusion of the buyout scheme. The main purpose of including this scheme in the business is to define that what can happen if one person wants to leave the business for any reason. Everything should be well defined in the operating agreement.

If there are more than one owner, then each owner is given the right to vote for selecting the manager for the company. These rights related to the votes are also included in the operating agreement.

Free Operating Agreement Templates:

Here is preview of This First Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in MS Word format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in PDF Format.

Download link for this Sample Operating Agreement Template.

Here is preview of another Sample Operating Agreement Template in PDF Format.

Download link for this Sample Operating Agreement Template.

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