A North Dakota limited liability company operating agreement is an internally developed contract between the business owners involved. This agreement aids in showing that the existence of the North Dakota entity protects its members from certain consequences as opposed to an informal company.
An operating agreement should dictate what actions and powers every signature North Dakota limited liability company. Every member should be given ample time to review this paperwork, speak to an appropriate professional regarding its content, then sign it to show understanding and compliance.
Is it Required in North Dakota?
No. There are no statutes imposed on North Dakota LLCs requiring that an operating agreement is made or executed at any time.
Templates (2)
Single-Member LLC operating agreement – The North Dakota LLC agreement used by companies with only one (1) member.
Multi-Member LLC operating agreement – The North Dakota LLC agreement used by companies with two (2) or more members.
State Definition
“36. ‘Operating Agreement’ means the agreement, whether or not referred to as an operating agreement and whether oral, in a record, implied, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in subsection 1 of section 10-32.1-13 and includes the operating agreement as amended or restated.”
