What is included in a New Hampshire operating agreement?
According to NH Rev Stat § 304-C:40 (2019), an operating agreement can be “written, oral or implied.” But a spoken agreement is flimsy and won’t hold up in court. A written operating agreement is essential, and should include information about:
- Transfer of membership interest
- Voting rights and decision-making powers
- Initial contributions
- Profits, losses, and distributions
- Management
- Compensation
- Bookkeeping procedures
- Dissolution
What info do I need to use Northwest’s Free New Hampshire LLC operating agreement?
Our lawyers drafted a comprehensive operating agreement you can use for free. You can build your LLC’s operating agreement, from scratch, right here on this page. Save it in a free account for later, and download a completed draft to sign.
In order to fill out our free operating agreement template, you’ll need your:
This must be your business’ legal entity name, or the name you put on your LLC Articles of Organization.
Did an LLC member contribute $50? $500? $5,000? A vehicle? That information goes here.
Write in 16 here since our version has a set amount of pages.
Your operating agreement is an internal document, so you won’t have to submit these names to the state just because they’re on here. However, you might need to add these people to your BOI Report.
Include ALL initial contribution percentages, even if it’s only a small amount of cash or property.
We recommend having a business bank account, but some banks like to actually see the operating agreement before you open an account. If that’s the case, you can leave this blank for now.
The address where your business physically operates.
If you aren’t sure when your LLC’s Initial Meeting will be held, you can add it in later.
Pages 13, 14, 15, and 16, on our template, require at least one signature from a member.
FAQs
No, New Hampshire statutes don’t explicitly require LLCs to have operating agreements. However, you’ll need an operating agreement for several important tasks, including opening a business bank account.
No. Your operating agreement is an internal document and should be kept on file with your own LLC records.
Yes. Though it may seem strange to adopt an agreement you’ve made with yourself, even a single-member LLC needs an operating agreement for important tasks, like opening a 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.