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The LLC Operating Agreement definition

The LLC Operating Agreement definition

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An operating agreement is a main document used by Limited liability company because it depicts the business' financial and functional decisions including rules, regulations and provisions.  When the document is signed by the member of the LLC it acts as an official contract binding them to its terms.The LLC operating agreement  provides the procedures for admitting new members, describes  the status of the  limited liability company upon a member's withdrawal, and outlines the procedures for dissolution of the Limited liability company

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