In general, members of LLCs execute an agreement at the time of the LLC's formation, however, members of limited partnerships do not.

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Both LLCs (Limited Liability Companies) and limited partnerships often execute an agreement at the time of formation, detailing the operation, management, and financial arrangements among the members or partners. This is known as an operating agreement for LLCs and a limited partnership agreement for limited partnerships.

In General, Members of LLCs Execute an Agreement at the Time