In many states, an operating agreement is required for a limited liability company to exist.

Name: In many states, an operating agreement is required for a limited liability company to exist.
Brand: Quizplus
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Question

In many states, an operating agreement is required for a limited liability company to exist.​

Quizplus · Accepted Answer

While many states do not require an operating agreement for a limited liability company to exist, it is strongly recommended to have one in order to establish the rules and structure of the business, allocate profits and losses, and clarify the roles and responsibilities of its members.

In Many States, an Operating Agreement Is Required for a Limited