A Hawaiian limited liability company operating agreement is a highly recommended contract that business owners should adopt for their company. Hawaiian single and Hawaiian multi-member LLCs benefit by having certain facts declared on paper in a legitimate manner. For instance, how the entity shall file its taxes, general policies, and profit distributions will require a definition in this paperwork.
This document should accurately represent the business owners’ intentions with their company. It should only be executed after they have conferred with one another, met with a qualified professional, and come to an agreement they can all comply with.
Is it Required in Hawaii?
No. No Hawaiian laws or legal requirements are placed on an LLC in this state to create an operating agreement during this entity’s lifetime.
Templates (2)
Single-Member LLC Operating Agreement– The operating agreement needed by Hawaiian LLC’s that have one (1) member only.
Multi-Member LLC Operating Agreement – The operating agreement used by Hawaiian LLC’s that have at least two (2) members.
State Definition
“‘Operating agreement’ means the agreement under section 428-103 concerning the relations among the members, managers, and limited liability company. The term includes amendments to the agreement.'”
