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When you form an LLC, it is a good practice to have an LLC Operating Agreement. Even if you are on your own, it shows that you are respecting the corporate formalities, it shows professionalism and helps prevent creditors from trying to pierce the corporate veil and get your personal assets. If there is more than one owner, an operating agreement is even more important to establish the rules of the road at the outset. Get your customized operating agreement today.
Customized. Professional. Just What You Need.
Our plain-English questionnaire gathers the necessary information to customize your document.
We will create the document pursuant to your instructions using our time-tested and attorney-prepared template.
Your operating agreement will appear in your secure online account available at all times. If you want to make additional changes, you will be able to do so for further customization if you wish.
You could cut and paste a document you find online, or have our professionally-prepared customized document just for you.
We start with a professionally prepared template put together by our on-staff experienced business lawyer. He also designed the questionnaire process to gather the necessary information.
Based on your answers to some questions written in plain English and without any legal-speak, your LLC Operating Agreement is custom-tailored just for you to satisfy your needs and objectives.
Your documents will be available in your secure online account. There, you can make additional edits and further customize the documents if you need to.
Your document preparation order is fully supported with the same professional and courteous service that comes with our other Swyft Filings services via chat, email or phone.
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The LLC Operating Agreement is the document that sets the ground rules for how the LLC is going to operate. It is similar to a partnership agreement for partnerships or bylaws/shareholder agreements for corporations.
One of the primary reason to form an LLC is to shield the owners from individual liability. To keep that protection, you have to follow the formalities to demonstrate that you really are operating as an LLC and having a proper LLC operating agreement is one way to demonstrate that. If you have more than one member in the LLC, it is also imperative to set forth the ground rules for how you will operate the LLC at the beginning before any disagreements arise.
There is no set rule dictating what must or what cannot be in your LLC operating agreement. Generally speaking the LLC Operating Agreement will cover:
Initial capital contributions of the members
Who gets to vote, how they vote and what percentage of votes are needed to do certain actions
Restrictions on transfer of a member’s share or the addition of a new member
How profits will be distributed
Designation of officers or managers
Without an LLC Operating Agreement, you could lose the personal liability shield that comes with the formation of your LLC. Many states have default rules that will govern your LLC if there is no agreement, but the lack of clear rules at the outset is one of the primary reasons many disputes between owners end up at the courthouse. As lawyers like to say, you can pay a little to establish the rules now or pay a lot more to have the rules established in court.
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