A Tennessee LLC operating agreement outlines the rules and regulations concerning the internal affairs of a limited liability company and its members, managers, and officers. Without an operating agreement, LLCs are governed by the Limited Liability Company Act. Executing this document allows the company’s members to maintain a legal structure that suits their needs.
A Tennessee LLC operating agreement outlines the rules and regulations concerning the internal affairs of a limited liability company and its members, managers, and officers. Without an operating agreement, LLCs are governed by the Limited Liability Company Act. Executing this document allows the company’s members to maintain a legal structure that suits their needs.
No – Tennessee statutes do not require operating agreements, but having one in place is common practice for LLCs.
Single-Member LLC Operating Agreement – For individuals establishing an LLC without other members.
Multi-Member LLC Operating Agreement – An operating agreement established by an LLC that has two (2) or more members.
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