A Montana multi-member LLC operating agreement is an agreement between multiple owners of a limited liability corporation. Members can be either individuals or corporations that own interests in the corporation. The operating agreement clarifies matters around:
- The company’s purpose;
- Who will own which interests;
- How those interests can be transferred;
- How salaries and expenses will be handled;
- How accounting will be handled;
- How the company will be dissolved if it comes to that;
- and more.
A signed copy of the operating agreement should be kept on file by each of the members.