Drafting Llc Operating Agreement

Summary

An LLC operating agreement in Illinois should include member roles, responsibilities, ownership percentages, voting rights, and profit and loss allocation. This document is crucial for outlining the internal structure and operational guidelines of the LLC.

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Yes
What state is your business located in? This is important as operating agreement rules can vary by state.
Illinois
What type of business entity is your company? In Illinois, operating agreements are particularly important for LLCs, outlining member roles, responsibilities, and ownership percentages.
LLC
What are the specific terms you want to include in your operating agreement?

In Illinois, an LLC operating agreement should include:
- Member roles and responsibilities
- Ownership percentages
- Voting rights
- Profit and loss allocation.