Operating Agreement
(Member-Managed, Multiple Members) (Short Form) (WA LLC)

Summary

This template is a short form operating agreement for a Washington limited liability company (LLC) that is member-managed with multiple members. This template includes practical guidance and drafting notes. Washington law does not require that an LLC adopt a written operating agreement, however written operating agreements are strongly recommended, particularly for multi-member LLCs. Statutory default provisions concerning the operation of an LLC will apply in many cases unless an operating agreement provides otherwise. Counsel should note that great latitude is afforded to limited liability companies in terms of economic, voting and tax matters and, accordingly, careful consideration should be given to the particular needs of a given enterprise. Consultation with tax counsel is advised in connection with the negotiation and terms of an operating agreement. For more information on Washington limited liability companies, see Formation and Qualification (WA LLC), and Ownership Interests (WA LLC).