An Operating Agreement is an agreement among LLC Members that governs the LLC’s business as well as member’s financial and managerial rights and duties. Many states require an LLC to have an Operating Agreement, however Ohio is not one of those states. LLCs that operate without an Operating Agreement are governed by the state’s default [...]
Posts Tagged ‘operating agreement’What You Need To Know About Starting A Small Business – Part 3: What is an Operating Agreement?Thursday, April 15th, 2010Tags: limited liability company, LLC, operating agreement, small business |
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