1. Home »
  2. LLC Operating Agreement »
  3. Illinois »
  4. Multi-Member

Illinois Multi-Member LLC Operating Agreement Form

Edit icon Fill Now Click to fill, edit and sign this form now!
Fill Now icon Fill Now Click to fill, edit and sign this form now!

Updated on November 8th, 2021

An Illinois multi-member LLC operating agreement to establish the rules, regulations, and structure of the entity. The document provides a means for members to relay the ownership and duties of each member, defining their relationship to the LLC. Additionally, an operating agreement can be used to substantiate the LLC’s separation from its owners, indemnifying them from liability in the case of legal action.

An LLC can be registered and begin its operations without an operating agreement, but it is common practice for companies to create one before engaging in business activity to establish a structure and organization that best fits their entity.