Limited Liability Company
- Limited Liability Company
- HR / Labor & Employment
- General Business Letters & Forms
Lead Counsel Rated Attorneys
An operating agreement is used by the members of an LLC to govern the company's business matters. This document spells out each member's rights, entitlements, powers and duties when it comes to managing the business and handling its finances. The operating agreement can be changed at any time by the members of the LLC.
The articles of organization, known in some states as a certificate of organization, allow you to create a limited liability company at the state level while determining the roles and liability of management. LLCs are regulated according to state laws, and they are still bound by the state's liability protection limitation statutes if applicable.
Page 1 of 1