A Mississippi multi-member LLC operating agreement is a legal document that establishes the ownership structure and a procedural plan for a limited liability corporation owned by more than one (1) member. The agreement contains such information as:

• Where the business will be domiciled;
• How financial matters will be managed;
• Who owns which interests;
• How interest can be transferred;
• How legal matters will be handled;
• Which members are responsible for which duties;
• How the company will be dissolved, in the event it has to be;
• and more.

Every member should retain a copy of this agreement, which can function as a shield of protection against lawsuits and disputes.