The Minnesota LLC operating agreement is a long-term safeguard against potential internal disputes since it helps establish an LLC’s credibility. Many suggest that members execute this document in writing as this helps the agreement stand the test of time.
The Minnesota LLC operating agreement is a long-term safeguard against potential internal disputes since it helps establish an LLC’s credibility. Many suggest that members execute this document in writing as this helps the agreement stand the test of time.
No. Minnesota does not have any state laws that mandate an LLC to function under an operating agreement; however, LLCs without one can be severely limited in their protections and functions. (Minnesota Statutes 322C.0111)
“Operating agreement” means the contract signed by all an LLC’s members and containing the company rules, code of conduct, and business activities;
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