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Minnesota Multi-Member LLC Operating Agreement Form

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The Minnesota multi-member LLC operating agreement is for an LLC with more than one owner. It lets owners outline the general conduct of the business and govern their business relationships in writing. As part of this, the agreement will record the owners’ investments, percentage interests, and valuation endorsements. Minnesota law does not mandate that LLC owners have to complete one of these agreements, but doing so is strongly recommended.

How to Write

Step 1 – Begin the first page with the company’s name at the top. Below that, enter the date and the owners’ names. If the company has more than three owners, write the additional owners’ names on a separate sheet and attach the sheet to the agreement.

Step 2 – Section 1:

  • 1.1 Formation – Write the date the company became effective, as well as the company name twice.
  • 1.2 Name – Write the company name again.
  • 1.4 Office – Enter the company’s primary street address.
  • 1.5 Registered Agent – This is a person that will receive official communication on the LLC’s behalf. Enter his or her name and address.
  • 1.6 Term – Fill in the date when your company began doing business.

Step 3 – Page 9: Every owner should sign here and print their names.

Step 4 – Listing of Members – Schedule 1: List each member’s name and address here, and then have them sign the bottom.

Step 5 – Listing of Capital Contributions – Schedule 2: Record each owner’s capital investment here, and then include the percentage interest in the company that the investment corresponds with. Again, have each member sign the bottom.

Step 6 – Listing of Valuations – Schedule 3: List the members’ valuations here. These are the dollar amounts that their shares of the company are valued at. For each Schedule, list any information about additional members on a separate sheet if needed and attach it.

You can choose to have the document notarized on the final page if needed.