Operating Agreement
Business · Reinvent NY glossary
An Operating Agreement is the foundational legal document for an LLC, defining ownership percentages, member roles, profit/loss distribution, voting rights, and procedures for adding/removing members. While not required by all states, it is essential for multi-member LLCs and critical for E-2 visa applications to demonstrate the investor's controlling interest. The agreement should cover management structure, capital contributions, dissolution procedures, and dispute resolution. A professionally drafted operating agreement typically costs $1,500-$5,000.
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