Florida doesn’t require limited liability companies (LLCs) formed in the state to have an operating agreement, but if you’re forming your LLC in the Sunshine State, it’s still a good idea to ...

Suppose that a father is running his business as a single-member LLC with no properly worded operating agreement, and that the father dies leaving the business to his three sons in his will.

An operating agreement is essentially a contract created between the members of an LLC that memorializes business operations and relationships between the members and the company. This contract ...

Promotional Widget for NH Business Review.Furthermore, the issue of what constitutes an appropriate management structure for an entity-owned single-member LLC is often far more complex than for ...

A single-member LLC is a limited liability company that is owned by one member or partner. Learn how single-member LLCs are set up, taxed and more.

The operating agreement delineates the ownership and describes the percentage of each member. For example, three members who each contribute $15,000 each have a 33 percent interest in the LLC.

LLC operating agreements should also outline the specific definitions of terms used in the agreement, as well as list the purpose of the business, a statement of its intent to form, how it will ...

1. Choose your management structure. There are two forms of management for LLCs: member-managed and manager-managed. This is true whether you have a multi-member LLC or single-member LLC.

The first is a direct action to assert a member's own injury by a manager, another member, or the LLC. Fla. Stat. Section 605.0801.