A Hawaii LLC Operating Agreement is a formal document utilized to outline the proposed structure of a limited liability company concisely. It further serves to establish an understanding involving procedures and policies for the LLC moving forward upon formation. The state of Hawaii does not require an operating agreement to be recorded to initiate lawful standing for an LLC, but it is suggested to protect the interests of all owning parties.
Laws
LLC Statutes – Hawaii Statutes – Chapter 428: Uniform Limited Liability Company Act (§ 428-101 – 428-1302)
Operating Agreements – § 428-103
Definitions – “Operating Agreements” means the agreement under section § 428-103 concerning the relations among the members, managers, and limited liability company. The term includes amendments to the agreement (§ 428-101).
Formation – § 428-201 – 428-210
By Type (2)
Multi-Member LLC Operating Agreement
– Simplifies an arrangement to solidify the desired set expectations for an LLC with more than one owning party.
Download: Adobe PDF, MS Word (.docx)
Single-Member LLC Operating Agreement – Produces a written accord to demonstrate guidelines and procedures for an LLC owned by only one individual.
Download: Adobe PDF, MS Word (.docx)