Updated on November 8th, 2021
An Alabama multi-member LLC operating agreement is a document that defines the function and management of a newly-created LLC with two (2) or more owners. The form contains the necessary legal language to ensure the company is held liable (not the members) should the entity face legal action.
The form is typically completed during the formation of a business, a time when having a good grasp of the company’s fundamentals and future plans is most important. It is worth bearing in mind that Alabama is not one of the five (5) states that require an operating agreement for formation purposes.