Illinois Disclaimer of All Rights Under Operating Agreement by Successor to Party to Agreement
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How to fill out Disclaimer Of All Rights Under Operating Agreement By Successor To Party To Agreement?
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FAQ
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.
There is no Illinois state law requiring an LLC to adopt an operating agreement. However, an operating agreement will help your LLC resolve disputes, open a bank account, and protect your limited liability status.
