10 Essential Operating Agreement Templates for Member-Managed LLCs

An operating agreement is a crucial document for any limited liability company (LLC). It outlines the rules and procedures for running the business, including decision-making processes, ownership structures, and financial management. For member-managed LLCs, an operating agreement is particularly important, as it ensures that all members are on the same page and can make decisions together.

In this article, we'll explore the top 10 essential operating agreement templates for member-managed LLCs. From basic templates to more complex ones, we'll cover the most important aspects to include in your operating agreement.

1. Basic Operating Agreement Template

This template is a good starting point for new LLCs. It covers the basics, including member responsibilities, decision-making processes, and financial management.

2. Member-Managed LLC Operating Agreement Template

This template is specifically designed for member-managed LLCs. It includes provisions for member meetings, voting procedures, and financial reporting.

3. LLC Operating Agreement Template with Dissolution Clause

This template includes a dissolution clause, which outlines the procedures for winding up the business in the event of a member's death or departure.

4. Operating Agreement Template with Buy-Sell Agreement

This template includes a buy-sell agreement, which outlines the procedures for buying and selling ownership interests in the LLC.

5. LLC Operating Agreement Template with Tax Provisions

This template includes tax provisions, such as the allocation of profits and losses among members.

6. Operating Agreement Template with Confidentiality Agreement

This template includes a confidentiality agreement, which outlines the procedures for protecting confidential business information.

7. LLC Operating Agreement Template with Dispute Resolution Clause

This template includes a dispute resolution clause, which outlines the procedures for resolving disputes among members.

8. Operating Agreement Template with Indemnification Clause

This template includes an indemnification clause, which outlines the procedures for indemnifying members against certain liabilities.

9. LLC Operating Agreement Template with Insurance Provisions

This template includes insurance provisions, such as the requirement for members to maintain insurance policies.

10. Operating Agreement Template with Audit Clause

This template includes an audit clause, which outlines the procedures for auditing the LLC's financial records.

Remember, an operating agreement is a living document that should be reviewed and updated regularly to reflect changes in your business. By using one of these templates as a starting point, you can ensure that your LLC is properly organized and protected.