Choose the appropriate document
This template is for an LLC. Corporations commonly use bylaws and resolutions, while partnerships may need a partnership agreement. Confirm the correct document and your state’s requirements.
Build it step by step
Put your LLC’s operating rules in writing.
An operating agreement documents how an LLC is owned and managed. Banks or payment processors may request it, but requirements vary. It is different from the articles used to form an LLC.
Complete the ownership and management details
Identify every member, contributions, ownership interests, management structure, voting rights, and who has authority to open accounts or enter agreements.
Resolve the financial and future decisions
Agree on distributions, records, tax administration, transfers, new members, exits, disputes, amendments, and dissolution. Do not sign with unresolved bracketed terms.
Review, sign, and retain
Review the agreement for your state, facts, and any professional or financing requirements. Obtain the required member or manager approvals and keep a signed copy in company records. Confirm what your bank or processor actually requests.