A Montana multi-member LLC operating agreement is an agreement between multiple owners of a limited liability corporation. Members can be either individuals or corporations that own interests in the corporation. The operating agreement clarifies matters around:

• The company’s purpose;
• Who will own which interests;
• How those interests can be transferred;
• How salaries and expenses will be handled;
• How accounting will be handled;
• How the company will be dissolved if it comes to that;
• and more.

A signed copy of the operating agreement should be kept on file by each of the members.