OPERATING AGREEMENT
of
Business Name

This operating agreement is entered into this (insert date here) by and between (insert owners’ names here), being all of the members, as follows:

NAME: The name of this company is (business name). The Name shall not be used in a shortened form by the members or any employee of the company.

ADDRESS: The initial principal place of business of the company and its mailing address will be (business address).

MANAGEMENT: Management of the company shall be by the members, with each member having equal authority in management decisions.

No contract or other transaction between this company and one or more of its members or any other corporation, firm, association or entity in which one or more of its members are directors or officers or are financially interested, shall be either void or voidable because of such relationship or interest, or because such member or members take part in the decision which authorizes, approves or ratifies such contract or transaction if: (a) the fact of such relationship or interest is disclosed or known to the other members which authorize, approve or ratify the contract or transaction or (b) the contract or transaction is fair and reasonable to the company.

COMPENSATION: Members may be compensated for services actually rendered as from time to time may be unanimously agreed.

INDEMNIFICATION: The company shall indemnify from liability any person for acts performed on behalf of the company if: I) he acted within the scope of his authority; II) he conducted himself in good faith; III) he reasonably believed that his conduct was in the company’s best interest; and IV) he had no reasonable cause to believe his conduct was unlawful.

MEMBERS: Members may be admitted to the company on such terms and conditions as the members shall determine by unanimous agreement.

MEETINGS: An annual meeting of members shall be held on the 1st Monday of April of each year commencing in 2003 (or put in any date desired) at the primary business office of the company at 9:00 o’clock a.m. Additional meetings may be called by any member upon not less than thirty days written notice of said meeting, mailed certified mail with return receipt requested to the address of each member or, if such address is not known and not reasonably available, then to the last known address of such member. Notices required herein shall state the place, day, hour, and the purpose for which the meeting is called. A signed statement waiving notice will be sufficient to replace any required written notice. By attending a meeting a member waives any objection to lack of notice or defective notice of such meeting and consents to the transaction of any business which may be considered at the meeting. A member may appear at any meeting and participate fully therein in person or by proxy. Any proposed action which could be approved at a meeting of the members may be approved by written consent of all members fully setting forth the matters so decided.

CAPITAL: The initial members have contributed capital as follows: (Input name and dollar amount here). Said sums represent the initial capital accounts of said members. Any further requirements for capital shall be determined by unanimous agreement of the members and shall be contributed equally by all members at the time said contribution is required. No member shall have the right to any payment for the purpose of reducing his capital account except upon dissolution of the company or withdrawal of a member as herinafter set forth. Notwithstanding any differences

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