A Vermont limited liability company operating agreement shows a company’s hierarchy, policies, and overall procedures in a binding contract. This is an important task since it will give members the power to clearly define their Vermont entity’s operations more specifically than the state’s default laws. This contract should be utilized by LLCs early on in their lifespan, regardless of the number of members making up the company.
Vermont will treat a signed operating agreement as a binding contract. As always, signature members should make sure to review this paperwork closely before signing it as well as seek a professional opinion when appropriate.
Is it Required in Vermont?
No. Vermont allows limited liability companies to organize and conduct business without an operating agreement in place. It is generally inadvisable, however that members organize and run a company without implementing an operating agreement.
Templates (2)
Single-Member LLC operating agreement – Download and use this contract to define how a Vermont limited liability company with no more than one (2) member will operate.
Multi-Member LLC operating agreement – Obtain this paperwork in the format you prefer to define how a Vermont limited liability company with two (2) members or more.
State Definitions
“(20) ‘Operating agreement’ means any form of description of membership rights and obligations under section 4003 of this title, stored or depicted in any tangible or electronic medium, which is agreed to by the members, including amendments to the agreement.”
