Delaware LLC Operating Agreement
Your Delaware LLC operating agreement is a legal document that outlines important operating procedures for your company, like voting, membership interest, allocating profits and losses, management structure, and—if it ever comes to this—dissolution.
Unlike your Delaware Certificate of Formation, your operating agreement is an internal document, which means it isn’t filed with the Delaware Division of Corporations—but that doesn’t make it any less essential. At Northwest, we offer a range of free, attorney-drafted operating agreement templates you can use to create a strong operating agreement for your Delaware LLC.
Is an operating agreement required in Delaware?
No, technically your Delaware LLC does not need to have an operating agreement. However, a strong operating agreement is required for many essential tasks, like opening a bank account and proving limited liability.
Do I have to file my operating agreement in Delaware?
No. Your operating agreement is an internal document, which means you’ll file it among your own business files.
Does a single-member LLC need an operating agreement?
Actually, yes. It may seem odd to have to create an agreement with yourself. But even single-member LLCs need an operating agreement to show proof of ownership, which is necessary for certain tasks and—most importantly—for maintaining limited liability.
*This is informational commentary, not advice. This information is intended strictly for informational purposes and does not constitute legal advice or a substitute for legal counsel. This information is not intended to create, nor does your receipt, viewing, or use of it constitute, an attorney-client relationship. More information is available in our Terms of Service.