Llc Operating Agreement Indiana With Multiple Members
Description
How to fill out Indiana Limited Liability Company LLC Operating Agreement?
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FAQ
Indiana LLC Cost. When starting an Indiana LLC, your primary cost will be paying the $100 fee ($98 online) to register your business with the Secretary of State. You'll also need to pay $50 ($32 online) every other year to file your Business Entity Report.
Starting an LLC in Indiana will include the following steps: #1: Choose a Name For Your Indiana LLC. #2: Choose a Registered Agent. #3: Decide Between a Multi-Member or Single-Member LLC. #4: File Your Articles of Organization. #5: Complete Other Tasks That Will Help Keep Your LLC Running.
Without the operating agreement, your state might not acknowledge you as an LLC, which means someone could sue you without there being any shield to protect your personal assets. You've already put in the time and effort to form your LLC to get liability protection.
The process of adding a member to an Indiana LLC may involve amending the company's articles of organization to include the new member. Depending on the terms in the agreement, current LLC members may need to vote on it for the amendment to pass.
Indiana state law does not mandate that LLCs adopt an operating agreement. Indiana state code § 23-18-4-5 states that LLCs may enter into an operating agreement but does not require them to do so. Even so, it is in your company's best interest to have a written operating agreement.