As discussed in a previous post, operating agreements are a fundamental founding document for an LLC. The beauty of an operating agreement is that it can be extraordinarily flexible to accommodate almost limitless options to suit the specific needs of any business and its owners. The agreement can also be…
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An operating agreement is the document that memorializes the manner in which the members of a limited liability company (LLC) will govern themselves and manage the company’s affairs. The agreement defines the LLC’s business and the financial and managerial roles of its members. The operating agreement can contain anything its…
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