The Arkansas multi-member agreement main purpose is to establish rules and member rules for LLC’s that will have more than one (1) owner. The agreement is written to protect each member to make sure that each owner performing in the role assigned and to mark down everyone’s ownership interest.
The most important part of the agreement is naming the Registered Agent, this is the person that will be handling the renewals, legal notices, and any mail sent to the limited liability company.
- Sample – Use as an example for writing your agreement.
How to Write
The operating agreement will need detailed information about the LLC including formation information located at the Secretary of State. You may lookup this information by searching the business database.
The following information will need to be required to be in the company;
- Member Names
- Formation Details
- Incorporation State
- Primary Business Purpose
- Place of Business
- Registered Office
- Registered Agent
- Initial Member(s)