A Montana limited liability company operating agreement is a written record of an LLC’s power structure. This will keep the members consistent in their responsibilities and demonstrate the hierarchy because each will be required to supply a signature indicating their compliance with this agreement’s provisions.
Regardless of the number of Montana business owners or members making up the membership of the company, a legitimate operating agreement can show that the policies and status of the company have been formally declared as of a certain date, which makes it a strongly recommended internal agreement for Montana LLCs.
Is it Required in Montana?
No. Montana has not enacted any laws obligating a limited liability company to have an operating agreement in place at any time.
Single-Member LLC operating agreement – To be utilized by limited liability companies comprising only one (1) member.
Multi-Member LLC operating agreement – Used by limited liability companies with a minimum of two (2) members.
“(23) ”Operating agreement” means an agreement, including amendments, as to the conduct of the business and affairs of a limited liability company and the relations among the members, managers, and the company that is binding upon all of the members”