Operating Agreement Definition
Operating Agreement
DEFINITION
DEFINITION
An operating agreement is an agreement among limited liability company (LLC) Members governing the LLC's business, and Member's financial and managerial rights and duties. Many states in America require an LLC to have an Operating Agreement. The Operating Agreement is an internal document not to be confused with the Articles of Organization required by the Corporation Division of the Secretary of State.
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Terri J Lee S.
Arizona Member
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Texas Member
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