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LLC Operating Agreement Template
An LLC operating agreement is the foundational document that defines how your LLC is owned and run. Banks, investors, and partners will all expect to see one — even in states where it is not strictly required.
When to use this LLC operating agreement
- Forming a brand new single-member or multi-member LLC
- Opening a business bank account (most banks require it)
- Bringing on a co-owner, investor, or new member
- Formalizing how profits and decisions are split
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Start Your DocumentWhat's inside the template
A clear breakdown of every section — written in plain English so you know what you're agreeing to.
Members and capital contributions
Lists every member, their ownership percentage, and what they contributed (cash, property, or services).
Profit and loss distributions
Explains how profits are split — typically pro rata, but you can customize.
Voting and management
Sets out who makes day-to-day decisions and what requires a majority or unanimous vote.
Buy-sell terms
Covers what happens if a member leaves, dies, or wants to sell their stake.
Dissolution
Defines how the LLC can be wound down and how remaining assets are distributed.
Frequently asked
- Do I legally need one?
- Most states do not require an operating agreement, but every bank, investor, and serious partner will.
- Single-member LLC?
- Yes — having an operating agreement reinforces the legal separation between you and the business.
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