Multi-Member Operating Agreement
Defining how you and your partner will run the business is essential to an effective working relationship and your bottom line. Work out the details before things get complicated. This contract covers, for example:
- How profits and losses are divided
- How owners make decisions
- Whether and if so how, owners can transfer their interests in the LLC
- What happens if an owner becomes disabled or dies
- Under what circumstances can an owner be forced out
- Chart to track contributions to the LLC
All our templates are attorney-drafted (by attorneys who know small businesses and the issues they face), immediately downloadable in Word, include in-document directions and separate instructions that walk you through how to customize the template and what the legal terms mean, and are written in easy-to-understand language with minimal jargon.
Who Needs This: LLCs with two or more owners (a.k.a. members)
Also Known As: Partnership agreement
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