The Rhode Island LLC operating agreement is a powerful tool to establish and enforce a company’s regulations, hierarchy, and purpose. It also verifies a managing member or officer’s rights when dealing with third parties (like banks) and each member’s role.
The Rhode Island LLC operating agreement is a powerful tool to establish and enforce a company’s regulations, hierarchy, and purpose. It also verifies a managing member or officer’s rights when dealing with third parties (like banks) and each member’s role.
No. Rhode Island has no state laws demanding that operating agreements be adopted so that an LLC can engage in business, yet a written contract can provide multiple safeties and benefits. (R.I. Gen. Laws § 7-16-4)
“Operating agreement” is any contract dictating a company’s method of operations and power structure and is issued by multi-member or sole-member LLC members, owners, or managers;
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