Family Llc Operating Agreement Template – US

Disclaimer

The information provided here is a general example related to agreements governing family LLCs in the United States. It is for informational purposes only and does not constitute legal advice. Users should consult a qualified attorney with expertise in estate planning, business law, or corporate governance to ensure compliance with applicable laws and regulations in their jurisdiction. The use of this example is at the user’s own risk, and no liability is assumed for any errors, omissions, or consequences resulting from its use without professional legal review.

Please note: This is a sample Family LLC Operating Agreement template, provided for illustrative purposes only. Actual terms may vary based on specific arrangements and applicable laws.

Family LLC Operating Agreement Sample

Introduction:

This Operating Agreement (“Agreement”) is entered into by and among the members of Family LLC, a limited liability company organized under the laws of the United States.

Members:

Member 1: John Doe
Address: 123 Maple Avenue, Anytown, USA

Member 2: Jane Smith
Address: 456 Pine Street, Othertown, USA

Purpose:

The purpose of this LLC is to operate and manage family-owned assets and investments as specified herein.

Capital Contributions:

Members agree to contribute capital as set forth in Schedule A, and such contributions shall be used for the LLC’s operational needs.

Management and Voting:

The LLC shall be managed by the Members collectively. Decisions shall be made based on voting rights proportional to each Member’s capital contribution unless otherwise specified.

Distributions:

Distributions of profits shall be made annually or as otherwise agreed, in proportion to each Member’s ownership interest.

Dissolution:

The LLC may be dissolved upon the unanimous agreement of Members or as otherwise provided herein, with assets to be liquidated and distributed accordingly.

Miscellaneous:

• This Agreement constitutes the entire understanding among Members.
• Amendments shall be made in writing and signed by all Members.
• Governing law shall be the state in which the LLC is organized.

Effective Date: _________________________