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Free LLC Operating Agreement Template
Free single-member and multi-member LLC operating agreement templates for all US states. Covers ownership, management, distributions, and dissolution. Download instantly.
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What is an LLC operating agreement?
An LLC operating agreement is a legal document that governs how your Limited Liability Company is structured and operated. It sets out who owns the LLC, how it is managed, how profits and losses are distributed, and what happens when a member wants to leave or the LLC is dissolved.
Why every LLC needs an operating agreement
Without an operating agreement, your LLC is governed by your state's default LLC statutes — which were written for generic businesses, not yours. A custom operating agreement lets you: override default rules (e.g., require unanimous consent for major decisions), protect the LLC's liability shield by demonstrating separation from personal finances, define what happens to ownership on a member's death or divorce, and prevent disputes by setting clear rules upfront.
Key clauses in an LLC operating agreement
Essential provisions include: member names and ownership percentages (capital contributions), management structure (member-managed vs. manager-managed), voting rights and decision-making thresholds, profit and loss allocation, distribution policy, restrictions on transferring membership interests, buy-sell provisions (buyout triggers and valuation), and dissolution procedures.
How to use this template
Click the button above to access DocSnappy's document generator. Select single-member or multi-member LLC, enter state of formation, ownership details, and management preferences. Download your complete operating agreement as a PDF.
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Frequently Asked Questions
Is an LLC operating agreement required?
Most states do not legally require an LLC to have an operating agreement, but California, New York, Missouri, Maine, and Delaware do. Even where not required, every LLC should have one — without it, your state's default LLC rules apply, which may not reflect what you actually want.
What is the difference between a single-member and multi-member LLC operating agreement?
A single-member LLC agreement focuses on management structure, distributions to the sole member, and what happens on dissolution or death. A multi-member agreement additionally covers ownership percentages (capital accounts), voting rights, how new members can be admitted, and how members can exit or sell their interest.
Can I write my own LLC operating agreement?
Yes. Many LLCs use self-drafted or template operating agreements. For simple structures — a single-member LLC or a small group of co-founders with equal ownership — a template covers all the essentials. For complex ownership structures, preferred returns, or investor provisions, legal review is recommended.