Looking for an operating agreement for your New York LLC? Well, you are in luck today. On this page, you can download professionally drafted operating agreement which you can modify and use for your LLC. And did we mention its totally FREE!
Why your Must draft an Operating Agreement?
The primary objective of the agreement is to lay down rules on how the business will run, roles and responsibilities of the member and how the finances will be handled.
New York is one of the few states in America, where having an operating agreement is required by law (NY LLC L § 701 (2015).
A well written operating agreement also covers what happens in case of conflict between members arises, provision of buying/transferring membership interest and day to day business activities.
Having a written agreement in place can save the member(s) from future troubles that may arise. It also protects member(s) personal assets in case of business loss or liability incurred. However for the limited liability to hold, the member(s) needs to separate their personal affairs from the business interest.
Also, an operating agreement is a good indicator in the eyes of the court, that the business owners are managing the business formally and professionally. Thus it helps in upholding the limited liability status of the business.
Below, we’ve shared a sample single, multi-member and manager managed operating agreement for LLCs in New York. The document is available in both PDF and Doc format.
Download New York LLC Operating Agreement (PDF/DOC)
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