An Arizona Multi-Member LLC Operating Agreement provides a documented reference to substantiate key elements concerning a company and its interest-holding members. This particular form is employed for use by LLCs with more than one owning individual and can be utilized to identify interest percentages as distributed among members. Prescribed company management and regulation specifics can be defined and adjusted as preferred by the filer. The contract is not necessitated by the state to officially create an LLC, but it is vital to verify a clear understanding of the rights and responsibilities of those involved in the business.