LLC Operating Agreement - EXPLAINED

Official LLC Operating Agreement: https://eforms.com/operating-agreements/

LLC Operating Agreements aren’t required by every state, but they’re beneficial for any Limited Liability Company to have on hand for many reasons.

An LLC Operating Agreement entails details on how the business and responsibilities will be divided among each owner, how decisions will be made, what happens in the case of members withdrawing from the company, and much more.

LLC Operating Agreements are required in the following states:
California;
Delaware;
Maine;
Missouri; and
New York.

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0:00 Intro:
0:28 LLC Formation:
0:36 What Is The Purpose Of An LLC Operating Agreement:
0:41 Purpose Of An LLC Operating Agreement:
1:10 Preamble:
1:19 Recitals:
1:35 Definitions:
1:45 Organizational Matters
2:04 Members and LLC Interests
2:18 Management
2:33 Capital Contributions:
3:06 LLC Termination:
3:28 An LLC Can Be Terminated When:
3:41 Profits And Loss:
3:53 What Is to Wind Up LLC: