You need to download Flash Player to view this banner

Get Adobe Flash player

Delaware LLC Operating Agreement

The Delaware LLC Operating Agreement is the core document that is referred to when issues concerning a Delaware limited liability company (“LLC”) need to be resolved.

The LLC Operating Agreement is the most important document for your Delaware LLC.

In the case of a single member LLC, without the formality of an LLC Operating Agreement, the LLC can closely resemble a sole proprietorship, which does not limit your personal liability for business debts of the LLC.

With respect to a multi-member LLC, the LLC Operating Agreement reflects the agreement among the members with respect to the affairs and management of the LLC and governs the relationship amongst the members of the LLC. By having an LLC Operating Agreement, the members will be provided with a clear set of rules that all members have agreed upon greatly reducing the likelihood of disagreement between them in the future. A LLC Operating Agreement will also greatly reduce financial and management misunderstandings, and make sure your business is governed by your own rules -- not default rules created by the state of Delaware.

Need a LLC Operating Agreement for your Delaware LLC?

www.myLLCagreement.com will generate a customized LLC Operating Agreement for your Delaware LLC in a matter of minutes.

Whether your LLC will have one or more members, will be managed by its members or by elected managers, or will be granting one or more members an interest in the LLC for the performance of services, myLLCagreement.com will generate a customized LLC operating agreement tailored to the needs of your business.

If you don’t want to spend thousands of dollars on a lawyer and don’t trust outdated internet forms, then let myLLCareement.com help you create a customized LLC operating agreement for your Delaware LLC.

The LLC operating agreement does not have to be filed with any state agency. All states, including the state of Delaware will enforce valid operating agreements entered into among LLC members. The operating agreement will only be enforced against the persons who are parties to the agreement. Therefore, it is extremely important that all members of an LLC sign the operating agreement.

Your Delaware Limited Liability Company

In general, the state of Delaware is the most commonly selected state for LLC formation largely because it has favorable LLC laws and has a considerable amount of case law regarding LLCs. 

LLC Filing Office

Department of State
Division of Corporations
P.O. Box 898
Dover, DE 19903
Tel: 302-739-3073
http://www.corp.delaware.gov/default.shtml
Check Name Availability


Entity or Franchise Level Tax

Delaware does not require partnerships, LLCs taxable as partnerships, or disregarded single-member LLCs to pay a general net worth tax or a tax based on net income.

State LLC Act

The Delaware LLC Act is contained in Title 6, Chapter 18 of the Delaware Statutes

https://www.nrai.com/Portals/0/Mediagallery/18.delaware.gif
The Delaware LLC Act

Important Statutory Rules

LLC Management

An LLC is managed by its members unless the Articles of Organization states that the LLC is to be managed by one or more managers.

Admission of Members

Unless the Operating Agreement states otherwise, new membership must be issued with the written consent of all members.

Amending the Operating Agreement

No statutory requirements exist for amending the Operating Agreement. The members may set their own rules for amending the LLC Operating Agreement,

Manager as Agent

The Delaware LLC Act states that unless otherwise provided in the Operating Agreement, both members and managers are agents of the LLC and both have the authority to bind the LLC.

Dissolution of the LLC

Unless otherwise provided in the Operating Agreement, a vote to dissolve the LLC must be approved by members who own more than two-thirds of the current economic interests in the LLC.  Though, within 90 days after the termination of a member, remaining members who own more than 50% of the current economic interests in the LLC can approve the dissolution of the LLC.

Assignment

The Operating Agreement can prohibit a member from assigning her membership interest prior to dissolution.

RECEIVE A CUSTOMIZED DELAWARE LLC OPERATING AGREEMENT IN MINUTES

HELPING THOUSANDS OF DELAWARE LLCS EACH YEAR

TRY IT FREE!

Create your Customized LLC Operating Agreement in 3 Easy Steps:
Get Started For FREE
  • Register for Free - it only takes a minute.
  • Register so you can access your LLC Agreement anytime
  • Create your LLC Agreement
  • Try it Free!
  • Answer a number of simple "customization" questions. It’s Easy!
  • Want to think about some of the questions?
    Save your answers and come back later!
    Finish & View LLC Agreement
  • View your customized LLC Operating Agreement and pay only if you are satisfied.

  • If you don’t like it, don’t pay for it.
    Credit card info only required upon purchase.