Operating Agreement Template – US

Disclaimer

The information provided here is for general understanding of partnership agreement guidelines within the United States. It is not legal advice and should not replace consultation with a qualified attorney experienced in business law. Regulations and requirements may differ across states and jurisdictions, and modifications might be necessary to meet local legal standards. The use of this content is at the user’s own risk, and we disclaim any liability for errors, omissions, or outcomes resulting from reliance on this material without professional legal review.

Please note: This is a sample Operating Agreement template for the United States, intended for illustration purposes only. Actual terms and provisions may vary based on specific circumstances and legal requirements.

Sample Operating Agreement (US Format)

Introduction:

This Operating Agreement outlines the structure, management, and operating procedures of the LLC, entered into by the Members listed herein, in accordance with applicable US laws.

Members:

Member 1: John Doe
Address: 123 Main Street, Anytown, CA 90210

Member 2: Jane Smith
Address: 456 Oak Avenue, Sometown, NY 10001

Purpose of the LLC:

The purpose of this LLC is to engage in lawful business activities as specified by the Members, including but not limited to real estate investments and management services.

Capital Contributions:

Members shall contribute capital as agreed upon, and such contributions shall be documented and updated in a separate record.

Management:

The LLC shall be managed by its Members, with decisions made by majority vote unless otherwise specified in this agreement.

Profit and Loss Distribution:

Profits and losses shall be allocated among Members in proportion to their respective percentage interests as set forth herein.

Voting and Meetings:

Members shall hold meetings as necessary, with voting rights proportional to Members’ interests, to make key decisions regarding the LLC.

Dissolution:

The LLC may be dissolved upon agreement of Members holding a specified percentage interest, with procedures for liquidation outlined herein.

Amendments to the Agreement:

Any amendments require written approval from Members holding a majority interest, documented in writing.

Governing Law:

This Agreement shall be governed by the laws of the State of California. Disputes shall be resolved within its courts.

Additional Provisions:

• Members agree to maintain records of all LLC transactions and meetings.
• This Operating Agreement may be amended only by written consent of Members holding at least two-thirds of the interests.
• The LLC shall maintain liability insurance to protect Members against potential liabilities.

[City], ______________________