Updated on November 8th, 2021
A Connecticut multi-member LLC operating agreement is a contract that spells out how a limited liability company with multiple members will function internally. Even though operating agreements are optional contracts in Connecticut, having one will help the company in a number of ways.
The agreement’s provisions bypass the default rules imposed by state law, allowing the members to build a management and operating system unique to their specific needs. Creating an operating agreement also helps prove that the entity, as opposed to the members, shall be liable in the event of any legal action the company may face.