The Virginia LLC operating agreement is a detailed summary of a company’s membership, structure, and policies. It is a powerful tool that aids an organization in conducting its business smoothly, especially if it is executed by all the LLC members and managers.
The Virginia LLC operating agreement is a detailed summary of a company’s membership, structure, and policies. It is a powerful tool that aids an organization in conducting its business smoothly, especially if it is executed by all the LLC members and managers.
No. LLCs in Virginia are not under obligation from state law to have an operating agreement to conduct company affairs, but, on the whole, it is generally recommended that they have a written one in place.
“Operating agreement” means the execution or verbal acknowledgment of a company’s terms and conditions of operations for its members and its method for conducting business;
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