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Wisconsin Multi-Member LLC Operating Agreement Form

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The Wisconsin multi-member LLC operating agreement is a legal document that is provided to assist the members of a business, in establishing various company policies and procedures. The document will also establish the duties and responsibilities of the respective members. The state of Wisconsin does not require the document to be filed before doing business within the state, however, this is a document that all members should consider placing this document as soon as possible. Absence of the document could mean the vulnerability of the member’s private assets, should they become liable in the event the company would be presented with litigation.

The document should be carefully reviewed by all members in advance of completion and filing. If the members feel they may require legal assistance, they may elect to work with an attorney seasoned in business law. Once the document is completed, it will require the signatures of all members before a notary public.

How to Write

Step 1 – Enter the company name at the top of the document

Step 2 – The Agreement –

  • Submit the agreement’s effective date in mm/dd/yyyy format
  • Provide member’s names

Step 3 – Company – Members must review the following titles. Enter any additional required information – Submit:

Formation –

  • Commencement date, in mm/dd/yyyy format
  • Company name

Name –

  • Provide the business name that will be used to conduct the company’s business
  • Purpose – Review

Office –

  • Submit the physical address that shall be maintained while the principal of the business is performed

Registered Agent –

  • Submit the name of the agent who was initially registered and the business address

Term –

  • Submit the business commencement date in mm/dd/yyyy format

Review the titles as follows:

  • Names and Addresses of Members
  • Admission of Additional Members

Step 4 – Titled Sections and Subsections – Review all of the following:

  • Capital Contributions (subsections 2.1 through 2.3)
  • Allocations of Profits and Losses; Distributions (subsections 3.1 through 3.3)
  • Indemnification
  • Powers and Duties of Managers, Section 5.1 (subsections 5.1.1 through 5.3)
  • Salaries, Reimbursement and Payment of Expenses (subsections 6.1 through 6.3)
  • Books of Account, Accounting Reports, Tax Returns, Fiscal Year, Banking (7.1 through 7.4)
  • Transfer of Membership Interest – 8.1 and 8.2 (subsections 8.2.1 through 8.2.5) – and 8.4 (subsection 8.4.1)  – 8.5 (subsections 8.5.1 through 8.5.5)
  • Dissolution – Review 9.1  (subsections 9.1.1 through 9.1.4), 9.2 (and subsections 9.2.1 through 9.2.3

Step 5 – General Provisions – Review the information contained within the following titles:

  • Amendments
  • Governing Law
  • Entire Agreement; Modification
  • Attorney Fees
  • Further Effect
  • Severability
  • Captions
  • Notices

Step 6 – Additional Documents, Members’ Signatures and Notary Acknowledgement – Enter signatures to the remaining documentation in the presence of a Notary Public so that they may be effective –

  • Provide members’ typed or printed names
  • Members provide signatures

Listing of Members – Schedule 1 – Submit the following information:

  • The company name
  • An effective date – dd/m/yy
  • Members’ names
  • Members’ addresses
  • Print/Type members’ names
  • Members’ signatures

Listing of Capital Contributions -Schedule 2 – Enter the following:

  • The company name at the top of the page
  • Members’ names
  • Members’ respective contributions
  • Members’ percentages interest
  • Date the members’ signatures in dd/m/yy format
  • Members’ printed or typed names
  • Members’ signatures

Listing of Valuation of Members Interest – Schedule 3 – Provide:

  • The name of the company in the line at the top of the page
  • Members’ names
  • The members’ amount of their Valuation Endorsement
  • Date the members’ signatures in dd/m/yy format
  • Date each member’s signature

Step 7 – Notarization –

The notary will provide the information required to complete the document. They shall provide their signature and in acknowledgement, shall affix their official seal

All members must receive and retain a copy of the completed, acknowledged document for their records, before filing the original.