Updated on November 3rd, 2021
A Kansas multi-member LLC operating agreement is used to detail a limited liability company’s policies and internal structure. The powers, duties, and ownership percentage of the members, as well as the company’s methods of operation will be agreed upon through this document. The form will also provide members protection against financial and legal liability by providing the clauses that hold the entity accountable for debts and any legal action.
Though there are default state guidelines that will govern LLCs, drafting and executing this contract enables founding members to set their own guidelines that better suit their specific needs