Multi-Member LLC Operating Agreement Template - Michigan

A Michigan Multi-Member LLC Operating Agreement is a legally binding contract negotiated and signed by several owners of the business that want to create an internal set of rules for their company. A document of this kind will help you stay focused on your objectives, determine the strategies of the business whether you just started it or have been working in the industry for a long time, and avoid inevitable disputes between the members by explaining in advance what steps to take in a particular situation.

You can download a Michigan Multi-Member LLC Operating Agreement template via the link below - while you do not have to submit it to any local or state authorities, you should keep it in your records and update the agreement whenever you change the goals of the organization or add a new member. This document should name the owners of the company and spell out their rights and obligations, provide for the fair allocation of stock, profits, and losses, explain the details of the accounting, bookkeeping, and voting, and cover organizational issues such as the addition of a new member of the board and the dissolution of the entity.

Haven't found the template you're looking for? Take a look at the related templates and forms below:

• Starting a Business Forms and Templates;
• Corporation Forms;
• LLC Forms.