The Indiana multi-member limited liability company operating agreement is a contract that can act as a basic guide on how a business will be run by its members after they have negotiated the basic attributes of this company. For example, the entity type, its procedures and policies, and its basic internal structure will all be solidified in this document.
There are no true requirements placed on the members of an Indiana LLC to execute such an agreement, but entities with one in place are better prepared to perform certain basic functions, such as opening a bank account as a business. It should be noted that Indiana LLC members are also advised to consult a professional regarding their responsibilities in this entity before signing this agreement.
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