Illinois Multi-Member LLC Operating Agreement

An Illinois multi-member LLC operating agreement is used to establish the rules, regulations, and structure of an LLC that has two or more owners. The document provides a means for members to define their ownership share and duties. Additionally, it substantiates the LLC’s separation from its owners, protecting them from liability in the case of legal action.

Illinois Multi-Member LLC Operating Agreement

Last updated October 4th, 2025

An Illinois multi-member LLC operating agreement is used to establish the rules, regulations, and structure of an LLC that has two or more owners. The document provides a means for members to define their ownership share and duties. Additionally, it substantiates the LLC’s separation from its owners, protecting them from liability in the case of legal action.