The Rhode Island LLC operating agreement is a powerful tool to establish and enforce a company’s regulations, member/manager hierarchy, and purpose. This paperwork also verifies officer rights whenever dealing with third parties (like banks) since it identifies company managers, members, and owners.
The Rhode Island LLC operating agreement is a powerful tool to establish and enforce a company’s regulations, member/manager hierarchy, and purpose. This paperwork also verifies officer rights whenever dealing with third parties (like banks) since it identifies company managers, members, and owners.
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;