An operating agreement is a very important piece of document for LLCs in North Dakota. It outlines how the LLC will be governed.
On this page, we’ve shared a generic operating agreement template for LLCs registered in North Carolina. You can use and modify them as per your business understanding.
Operating Agreement – Key Points
There are a number of reasons why the agreement must be drafted by the LLCs:
1) To avoid any confusion/disputes between member(s)
Having a written agreement in place can resolve issues where there is a conflict between the members regarding how the business operates. Such provisions can be made in the agreement.
2) To avoid default state rules
The default states rules are applicable for those businesses which do not have an operating agreement. The default rules are very generic and mostly are not in the best interest of the firm.
3) To uphold limited liability
A properly drafted agreement helps to uphold the limited liability status of the LLC in the eyes of the court.
Below we’ve shared a free operating agreement template for LLCs in North Dakota. You can download and customize the agreement as per your needs.
Download North Dakota LLC Operating Agreement (PDF/Word)
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