Are you looking for an Operating Agreement for your Maryland 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.
What is an Operating Agreement?
An operating agreement is a fundamental document which describes how the company operates internally. Although as per Maryland LLC statutes (MD Corp & Assn Code § 4A-402), it is not mandatory to have this agreement executed between the member(s). But without this document, the future of the business can be in jeopardy.
Issues can crop up between members due to internal or external factors. If the operating agreement does not cover how to resolve such scenarios, it can invite a lengthy arbitration or litigation process. Without the agreement in place, personal assets of the member(s) of the LLC can also be at risk.
A well written operating agreement covers capital contribution by each member, percentage of ownership, right and duties, obligations, voting rights, buy out/sell provisions and scenario when any of the member decides to leave the company.
On this page, we have shared a sample operating agreement for LLCs in Maryland.
Download Maryland LLC Operating Agreement (PDF/DOCX)
Based on the type of your LLC, 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 a professional business attorney to get a professional agreement made.
Last Updated: 02/01/2019