An Ohio LLC operating agreement registers the specific approaches a limited liability company intends to take in reference to internal business operations. The paperwork formally records an account of the LLC’s desired management structure, designated member duties, initial member investments, and profit distribution.
No, but it is highly suggested. The agreement facilitates transparency among members and supports liability protection.
Multi-Member LLC Operating Agreement – Generates a legal reference to designate internal procedures and responsibilities of a limited liability company with more than one member.
Single-Member LLC Operating Agreement – A document designed to catalog the operational framework for an LLC with one owning indiviual.
