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))
By Type (2)
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;