Indiana LLC Operating Agreement

Indiana LLC operating agreements detail an LLC’s policies and the identities of its members and owners thus promoting consistency over time. While this can be an oral agreement in Indiana, a written contract is often considered more reliable.

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Last updated December 6th, 2024

Indiana LLC operating agreements detail an LLC’s policies and the identities of its members and owners thus promoting consistency over time. While this can be an oral agreement in Indiana, a written contract is often considered more reliable.

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Is it Required in Indiana?

No. An Indiana LLC is not under any legal obligation from the state to execute an operating agreement; however, a written agreement demonstrates and can easily prove the manager or member’s rights (i.e., voting power, opening company bank accounts). (IN Code § 23-18-4-4 (2023))

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State Definition

“Operating agreement” means any kind of contract made by an LLC’s members, considered binding, describes how company affairs will be carried out and specifically defines each member’s role, contribution requirements, protections, and rights;

IN Code § 23-18-1-16 (2023)