Guam LLC Operating Agreement
Your Guam LLC operating agreement is a legal document that establishes rules for how your LLC will handle procedures like voting, allocating profits and losses, management, and even—should it ever come to this—dissolution.
An operating agreement is an internal document, but that doesn’t make it any less important than documents filed with the state. In fact, adopting a strong operating agreement is essential. That’s why we at Northwest offer a range of free, attorney-drafted operating agreement templates specific to Guam LLCs.
Is an operating agreement required in Guam?
No, Guam’s LLC statutes do not explicitly state that LLCs must have an operating agreement. However, you’ll need an operating agreement for several key tasks, like opening a business bank account.
Do I have to file my operating agreement in Guam?
No. Your operating agreement is an internal document, which means you’ll keep it filed with your own business records.
Does a single-member LLC need an operating agreement?
Yes. While it may seem strange to enter into an agreement with yourself, even single-member LLCs need an operating agreement for important tasks, like opening a business bank account and—perhaps most importantly—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.