A Utah LLC operating agreement serves to confirm a company’s status as an LLC and also solidify the membership roster and power structure. Many business owners consider this contract essential as it outlines the policies and procedures (such as voting and meetings) that the managers, members, and owners have agreed upon.
A Utah LLC operating agreement serves to confirm a company’s status as an LLC and also solidify the membership roster and power structure. Many business owners consider this contract essential as it outlines the policies and procedures (such as voting and meetings) that the managers, members, and owners have agreed upon.
No. There are no state laws in Utah demanding an LLC to conduct its affairs with an operating agreement in place; however, company owners are encouraged to execute one in writing. (Utah Code 48-3a-112)
“Operating agreement” means the formal acknowledgment of an LLC’s method of doing business, including internal policies and the membership structure;