Operating Agreement Checklist (FL LLC)

Summary

This Operating Agreement Checklist (FL LLC) presents key issues for consideration when drafting an operating agreement for a limited liability company (LLC) under the Florida Revised Limited Liability Act (Act). Florida is a default state, meaning that that the provisions of the Act apply when (1) there is no operating agreement, (2) the operating agreement is silent on a point, or (3) the operating agreement purports to modify or waive particular provisions that, by the strict terms of the Act, cannot be modified or waived.