A Kansas multi-member LLC operating agreement establishes the ownership structure and standard operating procedures of a business owned by two (2) or more members. The document can shield members’ assets from exposure to liabilities the company incurs. It outlines such details as where the company resides, how profits and losses will be distributed, and how the company will be wound up if it comes to that. Copies of the agreement should be kept on file by all members involved in managing the corporation.