Indiana LLC Operating Agreement Template

Indiana LLC operating agreements detail an LLC’s policies and the identity of managers, members, and owners to keep the company organized and consistent. While this can be an oral agreement in Indiana, a written contract is often considered wise, more reliable, and (generally) preferable.

Last updated September 6th, 2024

Indiana LLC operating agreements detail an LLC’s policies and the identity of managers, members, and owners to keep the company organized and consistent. While this can be an oral agreement in Indiana, a written contract is often considered wise, more reliable, and (generally) preferable.

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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)