Operating Agreement Template
An operating agreement is the private document that sets out how an LLC is owned, managed, and run day to day.
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How to create an operating agreement
Three steps take you from blank page to signed agreement.
Open the template
Open the operating agreement template in our editor to see every section laid out.
Fill in the agreement
Enter member names, ownership percentages, and management rules in each field.
Download the agreement
Download the finished operating agreement as a PDF ready for signatures.
What is an operating agreement?
An operating agreement is a private contract among the owners of a limited liability company. It records who owns the business, how profits and losses are divided, and who has the authority to make decisions. Unlike articles of organization filed with a state, it stays with the company's own records. A sample LLC operating agreement usually covers ownership, management, and what happens if a member leaves.
Key Takeaways
- An operating agreement sets LLC ownership terms
- It names members and their roles
- Signatures make the agreement binding
What does an operating agreement look like?
The document opens with the company's name, formation state, and purpose, then lists each member and their ownership percentage. Later sections cover management structure, voting rights, profit distribution, and rules for adding or removing members. It closes with signature lines for every owner. A multi member LLC operating agreement template adds a section for how members share control, while a single member LLC operating agreement template keeps that part brief.
What should an operating agreement include?
A solid agreement names every member, states each one's ownership percentage, and spells out how the company is managed — by the members directly or by an appointed manager. It should also cover how profits and losses are split, how decisions get voted on, and what happens if a member wants out. A 50/50 LLC operating agreement template needs extra care here, since an even split can leave votes deadlocked without a tie-breaking rule.
Does an operating agreement need to be notarized?
Most states do not require notarization for an operating agreement to be valid — signatures from all members are usually enough. Some banks or business partners ask for a notarized copy anyway before opening accounts or closing a deal, so check with anyone who will rely on the document. A simple operating agreement template still needs every signature line filled in and dated to hold up as a real agreement.
Can I download my operating agreement in Word format?
Yes. Once you finish filling in the fields, you can save an LLC operating agreement template Word document alongside the PDF version. Keeping an editable copy is useful if ownership percentages or management terms change later, since you can revise the agreement without starting over. Many businesses keep a printable LLC operating agreement form on hand for quick reference too.
Frequently asked questions
