A Massachusetts multi-member LLC operating agreement is a document that determines the way a company owned by two (2) or more members will be run and managed. The agreement includes such information as:
- Where the company resides;
- Which members own which interests;
- How interests can be transferred;
- How financial affairs will be handled;
- How the company will be wound up if it comes to that;
- and more.
The operating agreement should be signed in the presence of a notary public, and all signatories should keep a copy.