Updated April 26, 2022
An Ohio multi-member LLC operating agreement is a legal document designed for use by entities with more than one (1) managing member. The document guides the members through the process of establishing various terms of business. Company policies, procedures, member relations, and daily activities are some of the items to be agreed upon and outlined by the members.
Ohio does not require that businesses establish an operating agreement in order to conduct business within the state. However, the implementation of such an agreement should be considered a very important part of any business. In its absence, each member’s private assets would be left vulnerable with regard to any claims against the business. Operating agreements provide legal separation between a business and its members.