A Tennessee LLC operating agreement is a legal document designed to set forth the provisions determining the internal management of a limited liability company. This commitment paperwork aims to cement an understanding of member duties, financial arrangements, and general operational protocols moving forward.
No, but it is suggested one be filed. The written arrangement reaffirms the LLC’s business structure and provides further liability protection.
Multi-Member LLC Operating Agreement – A contract that dictates the company operations of an LLC with more than one member.
Single-Member LLC Operating Agreement – Submits a concrete understanding of how a limited liability with only one owner will be run.
