The voting rights of limited liability company owners, who are called members, can be outlined in the company's operating agreement. This document includes the rules on how the voting process for a ...

An operating agreement, even a simple one, can save you time and effort by eliminating uncertainty during the course of operating a limited liability company, or LLC. Not all states require operating ...

Do single-member LLCs need written operating agreements? The question may seem odd, since, by definition, single-member LLCs have only one member, who thus completely controls his or her (or its) LLC.

If you signed an LLC operating or partnership agreement prior to January 1, 2018, it may need to be amended to accommodate a significant new rule regarding taxation of partnerships. Effective for tax ...

LLC operating agreements frequently provide for indemnity to the LLC’s manager. This is consistent with the statutory default rule embodied by California Corporations Code section 17704.08(a), which ...

Litigation between and among members in a limited liability company (LLC) can be, to say the least, complicated. Disputes over money usually are, but when a minority group of members believe that they ...

It is far preferable for LLC members to consult with the proper advisers when preparing operating documents—and to ensure they draft them effectively. The documents are much more than formalities and ...

Opinions expressed by Entrepreneur contributors are their own. Every limited liability company (LLC) needs an operating agreement to serve as its backbone and ensure that partners are treated fairly.

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An LLC operating agreement is a legally binding document that outlines the LLC’s preferred operating, management and financial procedures. Its purpose is to guide the business’s internal operations ...