Multi-Member LLC Operating Agreement Template - Hawaii

If you go into business with several other people that have the same rights and responsibilities regarding the company you have, you should prepare a Hawaii Multi-Member LLC Operating Agreement - a formal instrument that determines the main components of the business activity and specifies the structure of the organization. One of the most important documents for any entity whose owners want to think ahead and prevent disagreements between the members and confusion in unpredictable circumstances, an operating agreement will allow you to spell out the purpose of the company, outline the revenue distribution, and elaborate on the potential modification of the bylaws.

A Hawaii Multi-Member LLC Operating Agreement template can be found below - generally, it covers the following elements: the names and titles of the owners and managers, the rights and duties of every person allowed to make decisions on behalf of the company, the conditions of joining or leaving the organization, the procedures to adhere to when the board chooses to dissolve the company, and the severability clause - if any of the provisions are deemed unlawful or simply removed, the rest of the terms remain in full force.

Still looking for a particular template? Take a look at the related forms and templates below:

• Starting a Business Forms and Templates;
• Corporation Forms;
• LLC Forms.