Free Utah LLC Operating Agreement Templates

A Utah LLC Operating Agreement is a formal instrument discussed and adopted by the LLC to outline how the company functions, how it is structured, and what measures the members are supposed to take when certain issues arise. While you are not obliged to prepare this document if your business is going to operate in Utah, consider drafting one anyway - it will allow you to protect the members by putting their agreements in writing instead of hoping verbal promises will be respected, the owners will be safeguarded from dealing with the commitments of the business, and the company will not need to comply with generic laws established for all entities, opting for a more personalized approach that reflects the goals and aspirations of members better.

Utah LLC Operating Agreement Template Types

• Utah Single-Member LLC Operating Agreement Template. You may decide the manual of rules is not necessary due to only one member in charge; however, even in this case it is advised to work on the operating agreement - you will confirm your property is separate from what the organization owns and certify your special tax status;
• A Utah Multi-Member LLC Operating Agreement Template is beneficial for companies formed by relatives, friends, business partners, and entities whose owners have only recently started their collaboration - it does not matter what kind of relationship you currently have, internal disputes are inevitable, so a list of regulations that explain what you should do in various situations will help your business to thrive even during a members' conflict.

How to Form an LLC in Utah?

Here are the guidelines for you if you are planning to open an LLC in Utah:

1. Select a person that will deal with formal correspondence sent to your company . It may be a person that lives in Utah or an entity that operates in its territory.
2. Choose the right application to send to the Division of Corporations and Commercial Code - there are two different documents for organizations created in Utah and those opened elsewhere. You can submit the paperwork online or send a traditional mail - do not forget about the fee (paid with a credit card, money order, or check).
3. Fill out a Utah LLC Operating Agreement Template . The members should convene a meeting to negotiate the provisions of this instrument. Generally, it contains the name of the company and verifies the identities of its owners, clarifies the objectives of the entity and explains what products and services it will offer, elaborates on the allocation of revenue and debts, records the voting rights of members and their roles when it comes to making decisions, and lists the instructions to adhere to when the company is handling the departure of one of its members or prepares to dissolve. Make sure all the owners sign the papers otherwise the document cannot be enforceable - maintain the updated version in the internal records of your organization.
4. Contact the Internal Revenue Service to obtain an employer identification number . It will be indispensable for every LLC that plans to hire employees, open a bank account, or apply for a loan - besides, the legitimacy of the company is further strengthened, so your business partners and investors will be inclined to trust you more.

Haven't found the template you're looking for? Take a look at the related forms below:

• LLC Forms;
• Partnership Forms;
• Corporation Forms.