Multi-Member LLC Operating Agreement Template - Maryland

If you and several other individuals have decided to start a business, you need to be sure long-term disputes are not going to damage the entity and explain how the company is going to be run on a daily basis - use a Maryland Multi-Member LLC Operating Agreement for this purpose. It represents a formal contract the members of the board approve and sign together to define the objectives of the business and list their own rights and duties related to the long-term goals of the limited liability company and its daily activities .

Download a Maryland Multi-Member LLC Operating Agreement template below - while the organizations founded in the state are not obliged to have this document in their internal records, it is advised to have a manual containing regulations outlining the management of the company. By maintaining and constantly updating an operating agreement, you can protect the members of the board from personal responsibility for the debts of the business, avoid default state regulations by choosing instead how the company operates according to your own wishes, and demonstrate the hierarchy of the entity to potential business partners and investors.

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

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