An Indiana Multi-Member LLC Operating Agreement is a contract that aims to secure a defined layout for operation specifics regarding a limited liability company with two or more managing parties. Although Indiana does not require LLCs to furnish an operating agreement, it is suggested to designate basic and complex aspects of how the business plans to be managed moving forward. All owners associated with the LLC can participate in the preliminary determination of regulatory stipulations and confirm initial investment and distribution schedules to be documented in the form.