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Washington Multi-Member LLC Operating Agreement

Washington multi-member LLC operating agreement outlines the ownership structure and standard operating procedures of a company jointly owned by two (2) or more members. The document establishes:

  • Members’ initial contributions;
  • The process for allocating profits and losses;
  • How the company will deal with legal matters;
  • Powers and duties of members;
  • How members will be reimbursed;
  • How expenses will be paid;
  • How taxes, banking, and accounting will be managed;
  • How membership will be transferred;
  • How the company will be wound up;
  • and more.

The operating agreement can be crucial in resolving disputes and can also shield members’ assets from liabilities to which the corporation is exposed. Each member should keep a copy on file.

Washington Multi-Member LLC Operating Agreement