California LLC Operating Agreement

A California LLC operating agreement is a contract between a company’s members (or owner/organizer) and the company itself. Typically, this is a signed contract since it defines the company’s internal environment and how it functions or behaves.

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Last updated December 6th, 2024

A California LLC operating agreement is a contract between a company’s members (or owner/organizer) and the company itself. Typically, this is a signed contract since it defines the company’s internal environment and how it functions or behaves.

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Is it Required in California?

Yes. All LLCs must have an oral or written operating agreement that formally defines its members, their obligations, protections, rights, expected contributions, and withdrawals, in addition to setting their company’s activities, goals, and dissolution. (CA Corp Code § 17701.10 (2023))

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State Definition

“Operating agreement” is an acknowledged and agreed upon roster of each owner/member, their functions, rights, and roles in an LLC while defining this organization’s rules and management structure;

CA Corp Code § 17701.02(s) (2023)