01
Tell us your structure
We review your formation paperwork and your ownership before drafting a word.
BASE CAMP01 / 03
Operating Agreement
Your LLC's operating agreement
This is the rulebook your LLC actually runs on. We draft it around your real company and your real partners, and walk you through every clause so you sign something you understand. You've got this.
$99 done for you
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THE DELIVERABLE · AGREEMENT
Operating AgreementLimited Liability Company
AGREEMENT
Prepared for
Company
ACME LLC
SIGNATURE-READY
Tailored to your membersDOC ✓
What's in the kit
Handled start to finish.
The brief
What is an Operating Agreement?
In short
An Operating Agreement is the internal contract between the members of an LLC. It sets out who owns what percentage, who can sign and spend, how profits are split, and what happens when a member leaves, dies or wants out. It is signed by the members and not filed with the state.
Why do you need an Operating Agreement?
Without one, your LLC is governed by your state's default rules, which were written for a generic company and not for yours. Those defaults decide how profits split and how a deadlock breaks, and they rarely decide it the way the founders assumed.
It is also asked for constantly. Banks ask at account opening, payment processors ask during review, and any investor or buyer asks before they look at anything else. New York requires LLC members to adopt one in writing within 90 days of formation, and California, Delaware, Maine and Missouri require one too.
Who needs an Operating Agreement?
- Every multi-member LLC, before the first disagreement
- Single-member LLCs, because it is what proves the company is separate from you
- Anyone opening a business bank account
- LLCs taking on an investor, a partner or a buyer
On your own, or with Summit
- The document. Prepared for your state, your entity and your ownership split.
- Ownership. Written down, signed, and stored in your portal.
What we draft for you
We build the full agreement around your specific company and your specific partners, then review every clause with you before anyone signs.
Once every member has signed, it's binding. We deliver a digital copy and the original signed counterparts.
You can add custom clauses for your situation on top of the required structure, and you can amend the agreement later as long as the change gets approved by the percentage of members the agreement itself sets.
Clauses we cover
- Membership structure and ownership percentages
- Capital contributions and member loans
- Profit and loss distribution rules
- Voting rights and management authority
- Member admission, withdrawal, and buyout terms
- Dispute resolution and dissolution provisions
Your expedition kitOperating Agreement
Review of your formation paperwork before we draft✓
Custom clauses written around your ownership structure✓
A plain-language walk-through of every section with the founders✓
Coordinated signing so all members sign in one round✓
Digital copy plus the original signed counterparts, available in any state✓
Exactly as listed. Where something is optional, the line says so.
Signature Signed
The route
Three camps to the summit.
The same route every time. Open a tab to see what happens at each camp, and what we need from you at it.
02
We draft and walk you through
Custom clauses around your real company, explained in plain language.
THE RIDGE02 / 03
03
Everyone signs, once
Coordinated signing in one round. Digital copy plus originals for your records.
THE SUMMIT03 / 03
Fellow climbers
“It has been 2 years since I started my business and I keep using their Flexible Space service. It is like I got my own office there. They receive my documents and scan them for me. Highly recommend it for those who do not have an address.”
NickToronto
4.7 on Google
Questions
Asked on the way up.
Can I add my own clauses?
Yes. The required structure and essential clauses have to stay, but you can layer on extra clauses for your specific situation.
How is it drafted?
We use the official structure used across the United States. We start from the company and partner documents you already have, draft the agreement, and walk you through every clause before signing.
Does every member have to sign?
Yes. The agreement only takes effect once all members sign, so we coordinate the signing to happen in a single round.
Can we change it later?
Yes. You can amend it any time, as long as the change is approved by the percentage of members the agreement specifies.
Is an operating agreement required by law?
In most states no, but in several it is. New York requires LLC members to adopt one in writing within 90 days of formation, and California, Delaware, Maine and Missouri require one as well. Everywhere else the bank, the processor and the investor ask for it instead.
Do I need one for a single-member LLC?
Yes, and it matters more than people expect. With one member there is nobody to disagree with, but the agreement is what shows the company is a separate thing from you. That separation is the whole point of forming an LLC, and it is what a court looks at.
Does the state keep a copy?
No. An operating agreement is internal: it is signed by the members and kept with the company's records. Nothing is filed and nothing becomes public, which is also why nobody will remind you that you never wrote one.
What happens if we never sign one?
Your state's default LLC rules apply instead, and they were written for a generic company rather than yours. They decide how profits split and how a deadlock breaks, and founders are usually surprised by both answers when they finally read them.
Can an operating agreement override state law?
For most internal matters, yes: profit splits, voting, transfer restrictions and what happens when a member leaves are all yours to set. A handful of protections cannot be waived, which vary by state, and those are the parts a template written for somewhere else tends to get wrong.
Will the bank ask to see it?
Almost always, at account opening, along with the formation documents and the EIN letter. Payment processors ask during review, and any investor or buyer asks before anything else. It is the most requested document an LLC owns.