An Oregon limited liability company operating agreement is considered a valuable record as well as a binding contract. This paperwork will target the manner in which the LLC will operate and be managed by its members. These company definitions and rules will be strengthened by virtue of being a signed agreement. Thus, removing any potential confusion regarding each Oregon LLC member’s voting power and authority.
As mentioned, Oregon will enforce a legal contract such as this, so each concerned party should consult professionals as often as needed and research the industry when developing this agreement.
Is it Required in Oregon?
No. Operating agreements are not required by the state of Oregon for limited liability companies in this state. An Oregon limited liability company may organize and conduct business without one if preferred, although many believe conducting business without an operating agreement in place will leave the company vulnerable in the future.
Templates (2)
Single-Member LLC operating agreement – The contract that should be used by Oregon limited liability companies with one (1) member in its roster.
Multi-Member LLC operating agreement – The internal agreement made between members of an Oregon limited liability company with at least two (2) members in its roster.
State Definition
“(25) ‘Operating agreement’ means any valid agreement, written or oral, of the member or members as to the affairs of a limited liability company and the conduct of the limited liability company’s business.”
