What is an operating agreement? An operating agreement, also known as a buy-sell agreement, is a document that tailors the terms of a limited liability company (LLC) to meet the specific needs of its owners. The agreement thus clarifies the internal operations of the LLC according to its members. It also outlines the financial and functional procedures of the business as well as what happens if one member wants to sell their interest to someone else.
Plan For The Road Ahead
Month: January 2021
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