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Indiana Multi-Member LLC Operating Agreement Form

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Indiana Multi-Member LLC Operating Agreement Form

Updated April 15, 2022

An Indiana multi-member LLC  operating agreement is a legal document that provides an avenue in which a member-managed company may agree upon and organize member relationships, daily business, operational procedures, and many other aspects of the company.

The state of Indiana does not require that any company provide this document. However, should the members decide against its provision, the members of the company would become personally liable as to the debts of the company. The enactment of an operating agreement not only serves to organize the company but also protects the members from the loss of their private personal and financial assets. Completion of the form would also allow for tax benefits that would otherwise be unavailable if the document is not filed.

All members would be strongly advised to review all of the information contained in the document. If any of the members are uncertain about any portion of the form, it may be necessary to consult with a knowledgeable attorney.

Member signatures will be required upon various pages of the document and are only considered effective when applied in the presence of a notary public.