A New York LLC operating agreement corroborates the operational functions and regulations regarding a limited liability company to preserve for reference and assurance purposes. This document prescribes management protocols, member responsibilities, and the rules concerning profit distribution.
Yes. All LLCs operating in New York are legally obligated to have an operating agreement in place to allow for legal formation with state governments.
Multi-Member LLC Operating Agreement – An executed form setting forth expectations surrounding member responsibilities, rights, and ownership particulars for an LLC with multiple members.
Single-Member LLC Operating Agreement – A contract enabling the record of established operational guidelines for a limited liability company with a single-owning member.
