Documents / Business
LLC Operating Agreement
Set the ownership, management, and financial rules for your LLC — single-member or multi-member.
Time
~12 min
Questions
20
Steps
4
Export
PDF · Word
You will answer guided questions with a live preview, then export, share, or send for e-signature. Free during launch.
What we will cover
- 01
The Company
- 02
Members & Management
- 03
Money & Taxes
- 04
Governance Terms
- 05
Review and generate
AI review, edits, export, and e-signature.
State-specific versions
This document adapts to any US state during the interview. These pages cover what changes in the states where the differences matter most.
About this document
An operating agreement is the internal constitution of your LLC: who owns what, how profits flow, who decides, and what happens if a member leaves, dies, or wants out. Most states don't legally require one — and that's exactly why skipping it is dangerous: without it, your state's default statute decides these questions for you.
Single-member LLCs benefit too. A written operating agreement is one of the strongest pieces of evidence that the LLC is a genuine separate entity, which is what protects your personal assets if the business is ever sued. Banks and investors routinely ask to see it.
Common questions
Is an operating agreement filed with the state?+
No. It's an internal document — you sign it and keep it with your records. Only the articles of organization are filed publicly.
Do I need one for a single-member LLC?+
Strongly recommended. It reinforces your liability shield, is often required to open a business bank account, and settles what happens to the company if something happens to you.
Member-managed or manager-managed?+
Member-managed (all owners run the business) suits most small LLCs. Manager-managed fits when some owners are passive investors or you want one person clearly in charge. Quill's interview supports both.
General information, not legal advice — laws vary by state and change over time.
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