Multi-Member LLC Operating Agreement
What would happen if your business partner suddenly decided to go in a different direction? Even if you’re building a business with a friend or trusted colleague, a Multi-Member LLC Operating Agreement is *essential*. Having a clear roadmap often makes the difference between thanking yourself and kicking yourself if business doesn’t go as planned.
An LLC Operating Agreement is much more detailed than information you file with your state. It shows respect for you, your partners, and your business by setting clear expectations and resolving issues in advance.
This LLC Multi-Member Operating Agreement Template was drafted by attorneys experienced with small businesses. We’ve included the most essential clauses to avoid common LLC issues. Now you can skip the DIY and gain peace of mind (without the lawyer price tag!).
Receive PDF and Word versions of the multi-member LLC Operating Agreement to your email within seconds! We’ll walk you through how to easily customize as much as you want. Your pre-written template comes with helpful video instructions, notes, and any future updates.
This Multi-Member LLC Operating Agreement Template is Best Suited For
This agreement is for multi-member LLC partners who want to get organized and legally protected.
(If you have a solo business or single-member LLC, we highly recommend our Single-Member LLC Operating Agreement Template instead.)
This Multi-Member LLC Operating Agreement Template Covers Situations Like
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Ownership structure: How each member owns the business, expressed as a percentage
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Management: How the LLC will be managed, including how the management team is selected
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Decision-making: How key business decisions will be made, and what actions require a vote by the members
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Profit and loss distribution: How profits and losses will be allocated among members, and how often they will be distributed
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Voting rights: The voting rights of each member, including their voting share
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Holding meetings: When and how they are held
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Buyout and buy-sell provisions: What happens when a member wants to leave and sell their share, or if a member dies
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And much more
→ Click the “What's Included” tab to see more!
Bonus Features of This Multi-Member LLC Operating Agreement Template
- A custom video tutorial by Paige on how to use your template with our easy step-by-step process.
- Tips throughout the contract template from a lawyer on how to customize it to YOUR business.
- Any updates from The Legal Paige. Don’t fall behind on legal trends in the LLC world! You’ll have ongoing access to the latest versions of this contract through your customer account.
→ Click on “Template Features” to see all features included.
Frequently Asked Questions
What does my purchase come with? Your purchase comes with both PDF and Word versions of each contract template and clearly marked fill-in-the-blanks with simple instructions.
Are these contracts customizable? Yes! This is YOUR contract, so you can always add, take away, or modify as needed. Easily customize your contracts using Microsoft Word or Google Docs.
Have additional questions about the Multi-Member LLC Operating Agreement Template? Contact us HERE.
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WHAT'S INCLUDED
template features
Every template is prepared by The Legal Paige, LLC, attorney-drafted and reviewed, and created specifically for your industry.
Every template is created with easy-to-use fill-in-the-blanks for your unique business. We make it simple to identify what information you need to input with highlighted, editable sections.
Once you’ve finished, you can quickly copy/paste into your client management software, Google Docs, or Microsoft Word to send to clients in a snap.
The language is reader-friendly. (We cut back on complicated legal mumbo-jumbo).
Plus, you'll get free access to future template updates from The Legal Paige.
disclaimer
DISCLAIMER: By purchasing a template contract and/or document from The Legal Paige, LLC, you are not given access to Paige, and no attorney-client relationship is created.
All template documents are drafted using general U.S. contract principles and are not state-specific. Our products are easy to use and have highlighted, editable sections with commentary on what to amend according to your business practices and local and state laws. You may modify the document on your own or find an attorney in your state to help you.
Some template documents are available in Canada, have been reviewed by a Canadian lawyer, and are drafted using general Canadian common law contract principles (not for use in Quebec due to civil law jurisdiction). Thus, if you purchase a Canadian template all language in the document will be applicable to your business operating in Canada. If you need assistance modifying the document, please find a lawyer in your territory/province to help you.
