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Free Legal Templates · Attorney-Drafted Format

LLC Operating Agreement Templates

Professional, comprehensive operating agreements for Single-Member and Multi-Member LLCs. Free to download. Ready to customize.

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Choose Your LLC Structure

Select the template that matches your business structure. Each agreement includes comprehensive provisions covering management, capital, distributions, and dissolution.

Most Popular
Single-Member LLC
Operating Agreement for one owner. Simplest structure with complete legal protection.
  • Full organization & formation clauses
  • Member management & authority provisions
  • Capital contributions & distributions
  • Disregarded entity tax treatment
  • Indemnification & liability protections
  • Dissolution & winding-up procedures
  • Exhibit A — Member information table
PDF · 9 Articles
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Multi-Member
Member-Managed LLC
All members share in management decisions and daily operations.
  • Proportional voting by percentage interest
  • Majority & unanimous consent thresholds
  • Right of First Refusal on transfers
  • Withdrawal & buyout procedures
  • Pro-rata profit & loss allocations
  • Dispute resolution (mediation + arbitration)
  • Exhibit A — Member table for up to 3+ members
PDF · 10 Articles
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Manager-Managed LLC
A designated Manager runs daily operations; members retain oversight and voting rights.
  • Designated Manager authority & duties
  • Manager removal & replacement procedures
  • Separation of ownership and control
  • Reserved powers requiring Member vote
  • Member information rights & annual reports
  • Manager indemnification provisions
  • Exhibit A (Members) + Exhibit B (Manager)
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Legal Disclaimer: These templates are provided for informational and educational purposes only and are provided by ATS Meta Analytics LLC. They do not constitute legal advice. Laws vary by state and situation. We strongly recommend reviewing these documents with a licensed attorney before use. These templates are a starting point — customize them to your specific business needs and applicable state law.

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What's Inside Each Agreement

Expand any article to read a summary of what it covers in each template.

I Organization
Covers formation under state law, company name, principal office address, registered agent requirement, and term of existence. Establishes the legal foundation of ATS Meta Analytics LLC as a single-member limited liability company.
II Member & Capital
Identifies the sole member and their initial capital contribution. Covers additional contributions (voluntary), capital account maintenance, and confirms no interest accrues on contributed capital.
III Management
Grants the sole Member full authority over all business decisions and operations. Lists specific management powers (contracts, bank accounts, hiring, asset acquisition). Allows delegation to agents or employees at the Member's discretion.
IV Distributions & Allocations
Establishes that distributions are made at the Member's sole discretion. Confirms disregarded entity tax status — all income/losses are reported on the Member's personal tax return. Prohibits distributions that would render the Company insolvent.
V–IX Books, Transfers, Dissolution, Indemnification & Misc.
Covers record-keeping requirements, fiscal year, bank accounts, permitted interest transfers (including to revocable trusts), dissolution events and winding-up, liability protections and indemnification, plus standard provisions (governing law, entire agreement, amendment, severability).
I Organization
Covers formation under state law, company name, principal office, registered agent, company purpose, and indefinite term. Establishes the legal framework for a multi-member member-managed LLC.
II Members & Capital Contributions
Identifies all Members and percentage interests (via Exhibit A). Covers initial capital contributions, rules on additional contributions (requiring written consent), individual capital account maintenance, and prohibits interest on capital.
III Management by Members
Establishes member-managed structure with majority voting by percentage interest. Lists actions requiring unanimous consent (amendments, new members, asset sales, dissolution). Covers meetings, written consent in lieu of meetings, and officer appointments.
IV–V Allocations, Distributions & Transfers
Profits/losses allocated pro rata. Distributions by majority vote. Covers Right of First Refusal on any transfer — existing Members have 30 days to purchase. Permitted transfers to wholly-owned trusts/entities without ROFR. New member admission requires unanimous consent.
VI–X Withdrawal, Books, Indemnification, Disputes & Misc.
Member withdrawal rights (90-day notice with fair market buyout), dissolution events, winding-up. Annual K-1 tax reporting. Member liability protection and indemnification. Tiered dispute resolution: negotiation → mediation → binding AAA arbitration.
I–II Organization & Capital
Standard formation provisions plus multi-member capital structure. Members and interests on Exhibit A. Additional contributions require Manager and majority Member approval — more protective than member-managed version.
III Management by Manager
The key article of this template. Grants the Manager full day-to-day operational authority. Specifies actions requiring Member approval (Manager removal, new member admission, amendment, merger/dissolution). Covers Manager term, removal process (majority Member vote), replacement, compensation, and fiduciary duties (good faith, best interests, business judgment, no conflicts).
IV Rights of Members
Clarifies that Members have no management rights unless expressly reserved. Establishes information rights (inspect books on reasonable notice) and requires the Manager to provide annual financial reports within 90 days of year-end.
V–VIII Allocations, Transfers, Dissolution & Books
Pro-rata profit/loss allocation. Distributions at Manager's discretion. ROFR transfer restrictions with 30-day window. Transfer approval requires both Manager and majority Member consent. Dissolution requires majority Member vote or judicial decree. Manager files Certificate of Dissolution. Annual K-1 tax reporting.
IX–XI Indemnification, Disputes & Miscellaneous
Members not personally liable for Company debts. Manager liability excluded for intentional misconduct, fraud, or knowing law violations. Company indemnifies Manager for good-faith actions. Tiered dispute resolution (negotiation → mediation → AAA arbitration). Standard governing law, amendment, severability, and counterpart provisions.
Helpful Guide

Which Template Do You Need?

Use this guide to pick the right LLC structure before downloading your agreement.

Choose Single-Member If…

You are the only owner of the LLC. You want complete control over decisions. You prefer simple pass-through taxation as a disregarded entity. You're a solo entrepreneur, freelancer, or consultant.

Choose Member-Managed If…

You have 2+ owners who all want to be involved in daily management. All members will make decisions together. You prefer democratic control with clear voting thresholds. Good for small business partnerships.

Choose Manager-Managed If…

You have passive investors or silent partners. One person (or a team) should handle day-to-day operations. You want a clear separation between ownership and management. Ideal for investor-backed businesses.

Why You Need This Document

Even states that don't require an operating agreement strongly recommend one. It proves your LLC is legitimate, governs member relationships, protects your liability shield, and overrides unfavorable default state rules.

How to Use These Templates

Download the PDF template that fits your structure. Fill in all bracketed fields with your specific information. Have all members sign the agreement. Store signed copies with your LLC's official records and give a copy to each member.

When to Consult an Attorney

These templates are a starting point. Consult a licensed business attorney if your LLC has complex tax arrangements, significant assets, investors, or operates in a highly regulated industry. State laws vary significantly.