An Arkansas Multi-Member LLC Operating Agreement is a legally enforceable contract signed by several owners of the limited liability company who agree upon the most crucial elements of their commercial endeavors: the management of the company and its hierarchy, the allocation of revenue, and the voting process. If you are looking for an easy way to protect the members of the board from the personal liability for the debts of the company and clarify potential disagreements even before they become an issue, this is the document for you.
You can find an Arkansas Multi-Member LLC Operating Agreement template below - it can be personalized to suit the needs of the organization. Traditionally, this legal instrument names all the members and lists their rights and obligations, describes how the company deals with the distribution of shares and profit, and indicates the procedures the board must follow in the event of the member's retirement or passing - there is no need to submit the operating agreement to the local county, simply keep it in your records and refer to it whenever required.
Haven't found the template you're looking for? Take a look at the related templates and forms below:
Pressing the PRINT button will only print the current page. Download the document to your desktop, tablet or smartphone to be able to print it out in full.