Required in Arkansas?
No, an operating agreement is not legally required for an LLC to operate in the state.
By Type (2)
Single-Member LLC Operating Agreement – To be used by a single owner or proprietor of a business. The document offers protections that are vital to a business that is run primarily by the owner of the business. The document outlines policies and procedures just as any business would and offers the same protections and tax advantages.
Download: PDF, MS Word (.docx), OpenDocument
Multi-Member LLC Operating Agreement – To be used by entities who will share a partnership (member management) with multiple contributing members. The document will list all members and provide in writing an outline of agreement between the members as to procedures and policies of the company’s daily operations.
Download: PDF, MS Word (.docx), OpenDocument
State Definition
“Operating agreement” means the agreement, whether or not referred to as an operating agreement and whether oral, implied, in a record, or in any combination thereof, of all the members of a limited liability company, including a sole member, concerning the matters described in § 4-38-105(a). The term includes the agreement as amended or restated.