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Indiana Multi-Member LLC Operating Agreement

An Indiana multi-member LLC operating agreement codifies an understanding between two (2) or more members who jointly own a limited liability corporation. The agreement includes such information as:

  • Who owns which interests;
  • The company’s purpose;
  • The company’s office location;
  • The plan for allocating profits and losses;
  • Members’ powers and duties;
  • How membership will be transferred;
  • How the company will be wound up;
  • and more.

The agreement protects members from disputes and their personal assets from claims made in court. Each signatory should retain a copy of it.

Indiana Multi-Member LLC Operating Agreement