An llc operating agreement is a document which outlines the manner in which a limited liability company will function. It is a legal contract which needs to be verified and agreed on by all the members of the llc or the board concerned. The document in question being a template, care should be taken to ensure that the layout of the llc operating agreement is correct and spot-on.
Sample LIC Operating Agreement Template
LIMITED LIABILITY COMPANY OPERATING AGREEMENT
[Name of company]
ANNEX DOCUMENT 1
Foundation of Company
The LLC for _______________ [name of company] comes into operation with effect from _______________ [dd/mm/yy] and the operating agreement shall be effective from the same date with periodic revisions every _________ years, or as and when the management agrees to revise it in unison. The members of the LLC board [please check enclosed document for names and other details] have been intimated of this agreement.
The terms and conditions contained in this document are applicable to each and every board member. In case of any breach of contract, the LLC operating agreement shall be deemed ineffective and the requisite penalties shall come into effect.
Duration of agreement: ______________________
Agreement drawn up by: _________________________
Agreement verified and checked by: _____________________
I have read and understood the terms of this LLC operating agreement carefully and I promise to abide by the same. I am aware of my role and responsibility within the LLC and I shall try my utmost to uphold the same.
Member 2: __________________________
Member 3: __________________________
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