A Tennessee limited liability company operating agreement concerns the rights and powers of a company’s business owner(s) or partners. Since this is put in writing, Tennessee LLC members will be able to refer to a consistent rulebook that shall guide them in managing their company. Furthermore, a signed and notarized document acts as a marked declaration of the company policy, tax status, and business goals. Documenting such intent can prove crucial when required to demonstrate membership powers or the status of a company.
After performing their research, meeting with the appropriate consultants, and concluding their negotiations, Tennessee business owners should execute this agreement with a notary and retain it for reference.
Is it Required in Tennessee?
No. There are no state laws that require Tennessee LLCs (limited liability companies) to sign an operating agreement.
Templates (2)
Single-Member LLC operating agreement -Developed for limited liability companies in Tennessee that have no more than one (1) member.
Multi-Member LLC operating agreement – Made for Tennessee limited liability companies consisting of two (2) or more members.
