A Washington limited liability company operating agreement must be developed by the members of a company to clearly reflect their positions and policies that will govern the company. The topics of discussion should include everything found in the company’s articles of organization as well as the language to define the protection available to each member of the company, their powers, and the regulations that will be used to run the company. The development and execution of this type of contract are left up to the members since Washington has no requirements other than that the content remains compliant with the law.
Naturally, the state of Washington will enforce a legal contract; therefore, every member would do well to make sure to carefully review the paperwork before signing it.
Is it Required in Washington?
No. There are no state laws that currently obligate Washington limited liability companies to employ an operating agreement; however, running an LLC without one would be considered risky and inadvisable.
Templates (2)
Single-Member LLC operating agreement – The contract needed by a Washington limited liability company with only one (1) member.
Multi-Member LLC operating agreement – Washington limited liability companies made up of at least two (2) members should issue this agreement to define its policies.
State Definition
“(8) “Limited liability company agreement” means the agreement, including the agreement as amended or restated, whether oral, implied, in a record, or in any combination, of the member or members of a limited liability company concerning the affairs of the limited liability company and the conduct of its business.”
