A Michigan LLC operating agreement authorizes a limited liability company’s financial and operational policies in Michigan. The document sets forth rules in an official capacity for distributing profits, making decisions, and what to do when a member exits or the LLC dissolves.
Does Michigan Require an Operating Agreement?
No, but this agreement is highly recommended. It establishes transparent business practices and prevents disputes by defining LLC members’ rights and responsibilities.
By Type (2)
Multi-Member LLC Operating Agreement
– Lays out the financial and operational rules for an LLC owned by a single person.
Download: Adobe PDF, MS Word (.docx)
Single-Member LLC Operating Agreement – Substantiates approved ownership structures, operational procedures, rights, and duties for multiple members of an LLC.
Download: Adobe PDF, MS Word (.docx)