An operating agreement is essentially a contract created between the members of an LLC that memorializes business operations and relationships between the members and the company. This contract ...

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 ...

An LLC operating agreement is a legal document that sets out foundational rules and guidelines for matters such as ownership percentages, members’ rights and duties, and how the LLC will be ...

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 ...

If an LLC’s Operating Agreement contains a sufficiently broad arbitration clause, most disputes raised by the LLC’s members relating to the LLC will be sent to arbitration (instead of the ...