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May 2015 Archives

DRAFTING LLC OPERATING AGREEMENTS

A limited liability company (LLC) operating agreement is similar to corporate bylaws in that both types of documents define the terms of how your business will function. The operating agreement sets forth the internal rules for governing a limited liability company, including the respective rights, obligations and duties of its members. When forming your business, an operating agreement should be carefully tailored to reflect the owner's unique goals, business plan and culture of the company and its members. Below are four important questions to consider when drafting your company's operating agreement: limited-liability-company-747-300x300.jpg

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