A Wyoming multi-member LLC operating agreement is a legal contract that clarifies how a limited liability corporation established by multiple members will be owned, managed, and operated. The agreement establishes members’ powers, duties, and obligations, and outlines procedures for membership, transferring membership, financial and legal matters, and dissolution. A multi-member LLC operating agreement can shield members from becoming personally liable for any lawsuits or actions the corporation might face. Each member should retain a signed copy to use in case of a dispute.