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Limited Liability Company (Domestic & Foreign)
While most states don't require LLCs to have operating agreements, it's always a good idea to create one to ensure your business is well administered and protected from risk.
52-584. Limitation of action for injury to person or property caused by negligence, misconduct or malpractice. Sec.
Florida doesn't require that you have an Operating Agreement for your Limited Liability Company (LLC), but it is recommended that you have one. When setting up your company, it's beneficial to seek legal advice from a Florida LLC Business litigation attorney.
Section 52-576. - Actions for account or on simple or implied contracts. (a) No action for an account, or on any simple or implied contract, or on any contract in writing, shall be brought but within six years after the right of action accrues, except as provided in subsection (b) of this section.
An operating agreement is a key business document that shows your business operates like a legit company. 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.
Section 52-577. - Action founded upon a tort. No action founded upon a tort shall be brought but within three years from the date of the act or omission complained of.
An operating agreement is a document which governs the internal operations of the limited liability company (?LLC?) and can be drafted even after the LLC has been formed. Under Connecticut law, an LLC is not required to have an operating agreement.