A Nevada multi-member LLC operating agreement is a document that establishes the ownership structure and standard operating procedures for a limited liability corporation owned by more than one (1) member. (Members can be individuals or other corporations.) The agreement outlines such details as:

• Where the company is located;
• Who owns which interests;
• What initial capital contributions were made;
• How profits and losses will be allocated;
• The powers and duties of members;
• How accounting will be handled;
• How membership can be transferred;
• How the company can be dissolved;
• and more.

Each member should keep a copy of the agreement on file.