LLC Operating Agreements Series Intro
One of the most appealing attributes of the limited liability company and why it has been so widely adopted is the flexibility it affords the owners with respect to management. LLC operating agreements are for an LLC what bylaws are to a corporation. The operating agreement can be thought of as providing the “laws” of the business, laying out how the company will be managed. The operating agreement provides the rights and obligations of the members, including members’ management abilities and economic interests. Without an operating agreement, limited liability companies are governed by the default provisions (in Washington, they are provided in Chapter 25.15 of the Revised Code of Washington). This inVigor Law Group blog series includes insight into some of the most important terms in an operating agreement. Here’s a list of the posts in the series:
- Members’ Rights
- Management Structures
- Economic Structures
- Exit Strategies and Provisions
- Transferability of Member Interests, and Admissions of New Members
If you want to learn more about forming a LLC or structuring your company, please contact us today.