Massachusetts Multi-Member LLC Operating Agreement Form

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Updated April 26, 2022

A Massachusetts multi-member LLC operating agreement is a legal document for companies with more than one (1) managing member. The document is not required in the state of Massachusetts; however, all businesses should consider implementing such an agreement to create a separation between members’ assets and those of the business. Without the enactment of the document, the members’ personal and financial assets will be at risk against any debts of the company. The document also provides specific tax benefits to those companies that implement it and their members.

All members should take the time to collectively review the document before filing as all must be in unanimous agreement to all aspects of the document. If the members feel they may require legal assistance, they may choose to meet with a trusted attorney for further assistance.