What is a lLC operating agreement?
Two members set the rules for their limited liability company: capital, ownership percentages, profit and loss, who manages it, voting, transfers, leaving and dissolution. Start from this template in FileIt eSignature: fill in the blanks, add the people who sign, and send it. Everyone signs online and the signed PDF is filed in your vault.
What you fill in
19 blanks, then the name and email of each person who signs: first member, second member.
1 The company
- Effective date*
- LLC name*
- State or jurisdiction of formation*
- Date the LLC was formed
- Business purpose*
- Principal office
2 The members
- First member*
- First member's capital contribution*
- First member's percentage interest*
- Second member*
- Second member's capital contribution*
- Second member's percentage interest*
3 Management
- Management* member-managed · manager-managed
- Manager (manager-managed only)
- Decisions needing both members*
4 Money
- Distributions of available cash* at least once a year, as the members decide · every quarter, after keeping reasonable reserves · only when the members unanimously decide
- Tax treatment
5 Leaving
- Days the other member has to buy an interest offered for sale*
- Governing law*
6 Who signs
- First member signature and date, initials on every page
- Second member signature and date, initials on every page
What the lLC operating agreement covers
- The Company
- Capital and percentage interests
- Profits, losses and distributions
- Management
- Duties and other activities
- Records and banking
- Transfers
- Leaving
- Dissolution
- Liability and indemnity
- General
Sign it online in minutes
- Fill in the blanks. Names, dates and amounts go straight into the agreement — the preview shows exactly where.
- Name who signs. Tick “This is me” for your own part. FileIt builds the PDF with every signature, date and initials box on the right line, and you can check or move anything before sending.
- Send it. Each signer gets a secure link and signs from any device — no account needed. The signed PDF, with an audit trail and a Certificate of Completion, is filed in your vault and emailed to everyone.