Is an Operating Agreement Required?
No – Although it’s not legally required to create an operating agreement, without one, the company will be governed by state law, and the owners may risk personal liability.
Types (2)
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A Pennsylvania LLC operating agreement is a document that the owners of a limited liability company execute to establish their business’s structure and practices. The completed document will relay each member’s ownership percentage, capital investment, rights, and obligations regarding the LLC.
No – Although it’s not legally required to create an operating agreement, without one, the company will be governed by state law, and the owners may risk personal liability.
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