In case you own a business with several other people, you should take measures to be able to protect yourself from personal responsibility for the debts of the organization - draft a Missouri Multi-Member LLC Operating Agreement . This formal contract will let you draw a clear picture of the internal structure of your organization, specify the procedures to follow whenever you have to organize a vote, and avoid the default local laws that may not be in line with the goals of your business.
Download a Missouri Multi-Member LLC Operating Agreement template below. Since Missouri is one of the states that require businesses to approve and formalize an operating agreement, you need to ensure it contains all the essential elements properly describing the company you own: the identification of the owners, the description of the business activities and the mission statement of the entity, the distribution of shares and revenue, and the steps to take whenever the owners decide to implement a new strategy, add a new owner, or amend the existing bylaws.
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