LLC Operating Agreements: A Quick Guide for Paralegals

An LLC operating agreement (OA) is a foundational legal document that outlines the internal rules and regulations for a limited liability company (LLC). It acts as a contract among the members (owners) and between the members and the LLC itself, guiding how the business will operate, make decisions, and distribute profits and losses. For paralegals, understanding the key provisions of an LLC operating agreement is crucial for assisting attorneys in drafting, reviewing, or amending these documents. This brief overview of common essential provisions is the perfect introduction to these tasks. Build your skills – register today!

Discover the basic structure and critical elements of LLC operating agreements.
Explore critical recordkeeping and reporting practices that shore up LLC protections.
Outline the process and requirements for admitting new members to the LLC.

CLE Hours = 1 Non-substantive