A Florida Multi-Member LLC Operating Agreement publishes a formal outline to define essential agreed-upon elements to the structure of a company owned by two (2) or more individuals. The Florida state government does not explicitly obligate LLCs to draft and execute an operating agreement, but it is a sound measure for legal purposes. Included in the contract are areas to designate particulars surrounding:

• Formation Information
• Company Ownership Percentage for Each Member
• Individual Member Contributions/Distributions
• Management of the Business
• Company Voting/Meeting Rules
• Bookkeeping/Tax Protocols
• Member Withdrawl/Wind Down Procedure

The form can also be useful in providing documentation to receive certain tax advantages. Notary supervision and corroboration are required to finalize the legal arrangement.