Our multi-member LLC operating agreement template is expertly crafted by legal professionals to ensure that your business is fully compliant with state regulations and protected from legal liability, giving you peace of mind and security as you grow your enterprise.
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An operating agreement for a multi-member LLC in Missouri is a legally binding pact among the company's owners. This document enables them to specify their respective financial conditions, define their rights and responsibilities, and allocate potential profits and losses.
This contributes to future financial certainty. It also records their ownership stakes and the worth of their individual shares in the business. The establishment of such an agreement is mandated by Missouri legislation for LLC owners.
This is where you'll input the official name of your limited liability company. This should match exactly what is on the formation documents that you submitted to the Missouri Secretary of State.
These fields must be filled with the specific date your operating agreement becomes effective. The effective date is usually the date when all members sign the agreement. So, if everyone in your LLC signed the agreement on June 1, 2023, that's the date you'd insert.
Here, you should also write the full legal names of each LLC member (owner). For example, if you and your two siblings own the LLC, you would each put your full legal names in these spots. If you have more than three members, you will continue listing the names in the same format.
Under Section 1.1 is when your LLC is officially formed. Typically, this is the date when your LLC's formation documents were approved by the Missouri Secretary of State.
Again under Section 1.1 you'll input the name of your LLC. Consistency is key here; make sure it's the same as what you listed at the top of the document.
This blank is for the date when your LLC becomes officially formed or effective. For example, let's say you and your partners decided to create an LLC for your new brewing company and settled everything on September 15, 2023. That's the date you'd put here.
In the same spot enter once again your LLC's name.
Under Section 1.4 is where you will write the complete physical address of your LLC's primary business location. It can't be a P.O. Box; it must be a physical address where your company conducts business. For example, if your office is located at "123 Main St, Springfield, MO 65802," that's the address you'd use.
Under Section 1.5 is the field for the full name of your LLC's registered agent. The registered agent is the person or business entity authorized to receive legal documents on behalf of the LLC.
For instance, if your attorney, John Doe, is your registered agent, you would put "John Doe" here."
Under the same section, you'd write the complete address of your LLC's registered agent. It must be a physical address in Missouri where the registered agent can receive official mail and legal documents. If John Doe's office is located at "456 Market St, Kansas City, MO 64106," you'd write that address here.
Under Section 1.6 you need to fill in the date that your LLC officially begins operations. It's often the same as the formation date listed in Section 1.1, but it can be a different date if you've chosen to delay the start of your business. So, if you wanted your business to begin on July 1, 2023, that's the date you'd use.
Here, each member of the LLC needs to print their name and then sign next to it. This shows that each member agrees to everything written in the operating agreement. For example, if you are John Smith, you will type or print "John Smith" in the space and sign next to it.
This is another space for your LLC's name. As before, you'll fill this inconsistently with the name you've used throughout the agreement.
In the next spaces you need to enter the date that the member listing is being made. This is simply the day you create this list, similar to the date on a letter or a contract.
In these spaces, list the names and addresses of each member of the LLC. If you're John Smith and you live at "123 Main St, Springfield, MO 65802," you'll put "John Smith" under "Name" and your address under "Address."
Similar to above, each member needs to print their name and sign next to it. This is another layer of agreement – it shows that each member agrees to the listing.
Under Listing of Capital Contributions provide once again your LLC's name. Consistency is key here.
Here, you'll list each member's name, the amount of money they've contributed to the LLC, and their percentage ownership in the LLC. So if you're John Smith, you contributed $50,000, and you own 50% of the LLC, you'll list "John Smith," "$50,000," and "50%" in the respective spaces.
These are the same as above. You're filling in the date, and each member is signing to agree with the capital contributions listing.
Under Listing of Valuation of Members Interest is yet another space for your LLC's name. Keep it consistent.
Here, you'll list each member's name and the value of their ownership interest in the LLC. So if you're John Smith and your ownership interest is worth $50,000, you'll list "John Smith" and "$50,000" in the respective spaces.
Again, these are the same as above. You're filling in the date, and each member is signing to agree with the valuation listing.
All these sections are vital as they establish who the members are, their contributions, ownership percentages, and the value of their interests. This brings transparency and helps resolve any potential future disagreements among members. In case of any legal disputes, this document serves as evidence of each member's commitment and contribution to the LLC.