Get the free Operating Agreement

This Operating Agreement establishes the relationship between the University of Montana Western and the University of Montana Western Foundation, outlining their responsibilities and adherence to applicable laws and policies governing their operations and fundraising activities.

How to fill out operating agreement

How to fill out operating agreement

1. Start with a title: 'Operating Agreement'.
2. Include the name of the LLC and its principal address.
3. List the names and addresses of all members.
4. Define the purpose of the LLC.
5. Specify the ownership percentages of each member.
6. Outline the management structure: member-managed or manager-managed.
7. Describe the voting rights and decision-making process.
8. Include provisions for adding or removing members.
9. Detail the distribution of profits and losses.
10. Address the process for handling disputes.
11. Include terms for dissolution of the LLC.
12. Make sure all members sign and date the agreement.

Who needs operating agreement?

1. All LLCs (Limited Liability Companies) should have an operating agreement.
2. Members of the LLC who want to define their roles and responsibilities.
3. Any business seeking to outline procedures and policies for internal governance.
4. Investors or partners who require clarity on business operations.

For pdfFiller’s FAQs

How can I manage my operating agreement directly from Gmail?

You can use pdfFiller’s add-on for Gmail in order to modify, fill out, and eSign your operating agreement along with other documents right in your inbox. Find pdfFiller for Gmail in Google Workspace Marketplace. Use time you spend on handling your documents and eSignatures for more important things.

How do I edit operating agreement on an iOS device?

Yes, you can. With the pdfFiller mobile app, you can instantly edit, share, and sign operating agreement on your iOS device. Get it at the Apple Store and install it in seconds. The application is free, but you will have to create an account to purchase a subscription or activate a free trial.

How do I edit operating agreement on an Android device?

You can edit, sign, and distribute operating agreement on your mobile device from anywhere using the pdfFiller mobile app for Android; all you need is an internet connection. Download the app and begin streamlining your document workflow from anywhere.

What is operating agreement?

An operating agreement is a document that outlines the management structure and operating procedures of a limited liability company (LLC). It serves as an internal guide for the members and sets forth the rights and responsibilities of each member.

Who is required to file operating agreement?

Generally, all LLCs should have an operating agreement, although not all states require it to be filed with a government authority. It is primarily the responsibility of the LLC members.

How to fill out operating agreement?

To fill out an operating agreement, members should include details such as the company name, purpose, members' names and addresses, capital contributions, distribution of profits and losses, management structure, and the process for making major decisions.

What is the purpose of operating agreement?

The purpose of an operating agreement is to define the governance of the LLC, clarify the roles and responsibilities of members, provide rules for operations, and safeguard members' limited liability status.

What information must be reported on operating agreement?

The operating agreement must report information such as the company's name and address, member details, ownership percentages, voting rights, management structure, and procedures for distribution of profits.