This sample Operating Agreement describes the rules by which the Members agree to govern the company. Modify to suit your needs.
Little Rock Arkansas Sample Operating Agreement for Professional Limited Liability Company PLLC
State:
Arkansas
City:
Little Rock
Control #:
AR-PLLC-1
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Arkansas Sample Operating Agreement For Professional Limited Liability Company PLLC?
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FAQ
An operating agreement is a key document used by LLCs because it outlines the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners.
While it's not legally required, an Arkansas operating agreement is highly recommended. This valuable legal document clarifies membership (ownership) and daily operations. Differentiating members (owners) from the business entity protects their personal assets in the event of liability issues like lawsuits.
Most states do not require LLCs to have this document, so many LLCs choose not to draft one. While it may not be a requirement to have an operating agreement, it's actually in the best interest of an LLC to draft one. And by drafting it, I'm referring to creating a written operating agreement.
An operating agreement is a key document used by LLCs because it outlines the business' financial and functional decisions including rules, regulations and provisions. The purpose of the document is to govern the internal operations of the business in a way that suits the specific needs of the business owners.
Updated July 29, 2022. An Arkansas LLC operating agreement outlines the internal day-to-day operations of a company and records each member's ownership interest. The agreement can include any rules the members agree upon such as management, capital contributions, and when distributions of the company are paid.
An LLC operating agreement is not required in Arkansas, but is highly advisable. This is an internal document that establishes how your LLC will be run. It sets out the rights and responsibilities of the members and managers, including how the LLC will be managed.
Operating agreements are contract documents that are generally between five and twenty pages long.
How much does it cost to form an LLC in Arkansas? The Arkansas Secretary of State charges a $45 fee to file the Articles of Organization online and $50 if filed by mail. You can reserve your LLC name with the Arkansas SOS for $25 if filed by mail or $22.50 if filed online.
It can secure your liability protection. This is crucial to understand, as it's the primary main reason that your single-member LLC needs an operating agreement. Even if an operating agreement isn't required in your state, running your company without an operating agreement could jeopardize your LLC status.