A Florida limited liability company operating agreement is generally adopted by business owners early on in their LLC’s formation. Every owner behind either a single-member or multi-member Florida LLC will seek to make certain declarations regarding their company. For instance, conscientious Florida business owners will wish to name their LLC’s purpose, liability policies, profit distributions, and tax status in this contract. Additionally, their authority in the Florida LLC, contribution requirements, and initial investments should be adequately recorded for future reference.
Once the Florida business owners are confident that they are up-to-date on state laws, completed their research and negotiations, and sought adequate consultation, they should execute this contract and retain the original in the LLC’s files.
Is it Required in Florida?
No. There are no laws that require a Florida limited liability company to complete an operating agreement to be completed to form or operate.
Templates (2)
Single-Member LLC Operating Agreement – Only for limited liability companies with no more than one (1) member.
Multi-Member LLC Operating Agreement – Only for limited liability companies with two (2) or more members
State Definition
(45) “’Operating agreement’ means an agreement, whether referred to as an operating agreement or not, which may be oral, implied, in a record, or in any combination thereof, of the members of a limited liability company, including a sole member, concerning the matters described in s. 605.0105(1). The term includes the operating agreement as amended or restated.”
Statute
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- 605.0106 – (5) “An operating agreement of a limited liability company that has only one member is not unenforceable simply because there is only one person who is a party to the operating agreement.”
