Delaware LLC Operating Agreement Legal Forms -

Delaware Operating Agreement Legal Forms Packages

Our Delaware Operating Agreement legal form package includes 3 form operating agreements that you can chose and modify as your needs may require. Our form package includes a basic Operating Agreement form that covers the most basic terms that should be included in most company Operating Agreements. Our package also includes a robust operating agreement that includes detailed provisions. We also include an “in-between” document that is a compromise between the more robust and the very simple.

Our Delaware Operating Agreement Form Packages also include a variety of resolutions and other documents that will assist you with finalizing your LLC. Our packages do not include the rather simple document that must be filed with your state to commence your LLC. We provide information on how to form your own LLC in your state, together with links to forms and other information that is provided by your state.

Order Delaware LLC Operating Agreement Forms

Delaware Limited Liability Operating Agreements

A limited liability company organized in Delaware creates a separate legal entity and provides insulation from liability that is similar to a corporation. There are some key differences between an LLC and a corporation. On such difference is that the owners of a corporation are generally referred to as “shareholders” while the owners of an LLC are generally referred to as “members.”

State LLC laws generally provide more flexibility for the members to agree between themselves regarding the terms of ownership, control, govern, and operate the company. In an LLC, the terms of ownership between the members is set forth in an Operating Agreement.

What is an LLC Operating Agreement?

Every Delaware limited liability company is required to have an Operating Agreement that lays out the terms of ownership between the members. The Operating Agreement usually contains the terms of ownership and other terms that are ordinarily contained in the Bylaws of a corporation. Additionally, the Operating Agreement usually includes terms agreements between the owners that are normally included in a shareholder agreement.

As with all of our legal form packages, we strongly recommend that you have an attorney review your Operating Agreement. Each company will have differences that must be reflected in the Operating Agreement.

Usual Contents of LLC Operating Agreements – Delaware

LLCs organized under Delaware law have a lot of flexibility regarding the terms that they may include within the Operating Agreement. In general, most operating agreements will include, at a minimum, terms relating to:

The rights and obligations that are tied to ownership of a membership interest
The percentage of interests or number of membership interests that are owned by the individual members
How the LLC will be managed
Voting rights that are tied to each membership interest
An agreement regarding disposition of membership interests when a member withdraws or is required to withdraw from the LLC
Terms relating to dissolution and liquidations of the LLC
Terms that restrict the transfer of interests or pledging and interest as collateral for a loan
Qualifications of members

There may be a variety of other terms contained in an Operating Agreement, but the above are generally contained in even the most basic operating agreement.

Delaware FREE Incorporation Package

Delaware Bylaws and Corporate Kits

Delaware Annual Corporation Review and Update Package

Delaware LLC Operating Agreement and Minute book Package

Delaware Annual LLC Review and Update Package

250 Plus Corporate Resolution and Meeting Minute Package

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Confidentiality and Nondisclosure Agreement Forms Package

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Real Estate Leasing and Landlord’s Package

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