Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. In Texas, an operating agreement isn’t required to form a ...

An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and ...

LLC operating agreements frequently provide for indemnity to the LLC’s manager. This is consistent with the statutory default rule embodied by California Corporations Code section 17704.08(a), which ...

Once you have registered your restaurant as a limited liability company, you will need to draft an LLC operating agreement to dictate the terms of how your business will be run and the process for ...

The voting rights of limited liability company owners, who are called members, can be outlined in the company's operating agreement. This document includes the rules on how the voting process for a ...

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.

A chapter 13 debtor was a member of a limited liability company. Another member sought relief from the automatic stay in order to exercise a right to acquire the debtor’s membership interests pursuant ...

Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly. However, it can easily be inaccurately written or leave out ...

Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. An LLC operating agreement is a legal document that outlines ...

Opinions expressed by Entrepreneur contributors are their own. Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly.