Multi Member Llc Operating Agreement Template – US

Disclaimer

The information provided is intended solely as a general example for guiding the creation of agreements governing the operation and management of multi-member limited liability companies in the United States. It does not constitute legal advice and should not be relied upon as a substitute for consulting a qualified attorney experienced in business law and LLC structuring. Legal requirements and regulations can vary by jurisdiction, and adjustments may be necessary to ensure compliance with local laws. The use of this example is the user’s responsibility, and no liability is assumed for errors, omissions, or consequences resulting from its use without professional legal review.

Please note: This is a sample Multi Member LLC Operating Agreement template for illustrative purposes only. Actual terms and provisions may vary based on jurisdiction and specific member agreements.

Multi Member LLC Operating Agreement Sample

Members Involved:

Member 1: John Doe
Address: 123 Elm Street, Springfield, IL 62704

Member 2: Jane Smith
Address: 456 Maple Avenue, Springfield, IL 62705

Formation and Purpose:

This Limited Liability Company (LLC) was formed under the laws of the State of Illinois for the purpose of managing real estate investments and other lawful activities as agreed upon by the members herein.

Capital Contributions:

Members shall contribute capital as specified in Exhibit A. Additional contributions shall be made only with the consent of all members.

Profits, Losses, and Distributions:

Profits and losses shall be allocated to members in proportion to their capital contributions, and distributions shall be made accordingly, subject to operational needs and law.

Management:

The LLC shall be managed by its members, with decisions made by majority vote unless otherwise specified in this agreement.

Voting and Decisions:

Major decisions require the approval of members holding more than 50% of the voting interests unless a different threshold is specified herein.

Dissolution:

The LLC may be dissolved upon agreement of all members, or as provided by law. Upon dissolution, assets will be distributed according to member interests.

Miscellaneous:

• This agreement may be amended only with the written consent of all members.
• Any disputes arising shall be resolved through arbitration or courts in Illinois.
• Members agree to maintain confidentiality regarding the LLC affairs.

Springfield, ______________________