Delaware Multi-Member LLC Operating Agreement

The Delaware multi-member llc agreement is for a company that is registered with the Secretary of State. The agreement will state the LLC’s intentions, day-to-day activities, ownership interest, and any other information the members elect to write in the document.

State Definition – § 18-101(7)

The agreement is required to be created by State Law and the entity information provided by the Secretary of State business database may help providing information for the form.

How to Write

The individual that fills in the document will have to have information about the following topics:

  • Table of Contents
    • Formation
    • Interpretive Provisions
    • Business Purpose
    • Membership Interests, Capital Contributions
    • Member Loans and Capital Accounts
    • Allocations and Distributions
    • Company Management
    • Accounting and Reports
    • Transfer of Membership Interests
    • Optional Buy-Out Upon Dispute
    • Dissolution and Liquidation
    • General Provisions
  • Exhibits
    • Schedule of Members
    • Description of Real Property
    • Profit/Loss Allocations