A multi-membered LLC is a company that has been established in California with more than one owner, also referred to as a “Member”. The agreement is to protect the members from each other and list the rules, bylaws, and function of the business. All members must be in agreement with the written form and once complete it is advised to elect having signed with a notary public present.

State Definition

• From 17701.02(s)

(s) “Operating agreement” means the agreement, whether or not referred to as an operating agreement and whether oral, in a record, implied, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in subdivision (a) of Section 17701.10. The term “operating agreement” may include, without more, an agreement of all members to organize a limited liability company pursuant to this title. An operating agreement of a limited liability company having only one member shall not be unenforceable by reason of there being only one person who is a party to the operating agreement. The term includes the agreement as amended or restated.

How to Write

The following information should be entered into the operating agreement:

• Name of the Company
• Date of the Agreement’s Formation
• Date of Company Formation with Secretary of State
• Business Means
• Principal Office Address
• Repurchase Option(s)
• Books of Account
• Tax Status – Number (%) Recognized for Federal Income Purposes
• Member Ownership and Powers
• Signatures and Contributions (if any)

Versions

• Version 1 | Adobe PDF | Microsoft Word
• Version 2 | Adobe PDF | Microsoft Word
• Version 3 | Adobe PDF | Microsoft Word
• Sample | Adobe PDF