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Hawaii LLC Operating Agreements (2)

A Hawaii LLC operating agreement documents the operating procedures, policies, ownership, and structural aspects of a company. All decisions must be agreed upon by its members. After the agreement is executed, it is held by each member and can only be changed by written amendment. The agreement is not filed with any government office.
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Updated August 05, 2024

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By Type (2)

Single-Member LLC Operating Agreement – For use by a single owner to provide, in writing, information with regard to their business practices. The owner will have the ability to maintain a separate legal identity for the member’s/owner’s personal assets.

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Multi-Member LLC Operating Agreement – For entities involving more than one (1) member/owner. The document shall establish relationships between members as well as the policies of the business.

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State Definition

“Operating agreement” means the agreement under section 428-103 concerning the relations among the members, managers, and limited liability company. The term includes amendments to the agreement.[1]

Sample

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Sources

  1. § 428-101