Once an LLC has filed its certificate of formation, it should also complete the LLC operating agreement. Although the operating agreement is not compulsory under the law, it is essential for protecting limited liability status, preventing disputes among members, and ensuring that the company follows legal formalities. Without an LLC operating agreement, disaster may strike. Fortunately, operating agreements can be easily tailored to each company's specific needs.
Forming an LLC is also convenient because it is easy to create and implement an LLC operating agreement amendment if the company undergoes changes, the membership leaves or grows, or other modifications need to be made. Likewise, if you need to add additional terms regarding management, ownership, or other terms, then you simply need to complete an LLC operating agreement addendum.
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