Are you looking for an Operating Agreement for your Indiana LLC? If yes, then you have come to the right place.
Below, we’ve shared a generic operating agreement template which you can use and modify as per your business needs.
Before you proceed, here are top reasons why an Operating Agreement is so Important
An operating agreement is a legal document outlining how the member(s) plan to run the business. Based on how complex the business is, the document can vary from 2-40 pages.
The agreement is not mandatory as per the Indiana LLC laws (as defined in IC 23-1.5-1-9). However, it is highly recommended to have one and not leave the business at risk.
An operating agreement generally covers the following:
1) Name and address of the member(s) and manager(s)
2) Nature of Business
3) Percentage ownership of each member and capital contribution
4) Roles, Responsibility, and obligation of each member
5) Distribution of profit/loss and accounting method information
7) Clause for buy/sell/transfer of member interest
8) Non-Compete clause between the member(s)
The above points are usually present in all the agreements. In the case of complex scenarios, some extra points may be added such as how the disputes will be settled, what happens when any of the member dies or decides to leave etc.
Below we have shared a sample Indiana Operating Agreement. Based on your requirement select the relevant document.
Download Indiana LLC Operating Agreement (PDF/DOCX)
Based on the LLC type, download the relevant document.
Disclaimer: The document is shared for reference purpose only. We disclaim all liability and responsibility arising from any reliance placed on the information shared. We encourage you to consult aprofessional businesss attorney to get a professional agreement made.
Last Updated: 02/01/2019