An Ohio LLC operating agreement promotes a company’s organization when conducting business and enforces the expectations the owners, managers, and members agreed to. Since oral agreements are subject to unlicensed change over time, many suggest executing a written contract.
An Ohio LLC operating agreement promotes a company’s organization when conducting business and enforces the expectations the owners, managers, and members agreed to. Since oral agreements are subject to unlicensed change over time, many suggest executing a written contract.
No. The State of Ohio has not drafted any current laws that require LLCs in this state to adopt an operating agreement. (Chapter 1706.08 Ohio Revised Limited Liability Company Act)
“Operating Agreement means the written, verbal, or recorded declarations of one or more LLC owners (or partners), managers, and members dictating the procedures and affairs of their company;