Wyoming LLC Operating Agreement
A Wyoming operating agreement is a legal document that establishes the rules and structure of your LLC. Your operating agreement is a legally binding agreement between you and your members on how your LLC will handle important procedures like voting, transferring membership interest, allocating profits and losses, and dissolution, should the time come.
An operating agreement is an internal document, so you don’t need to file it with the Wyoming Secretary of State. But having an operating agreement on file that fits your LLC’s needs is essential. That’s why at Northwest, we offer attorney-drafted operating agreement templates for a range of situations.
Is an operating agreement required in Wyoming?
Wyoming’s state statutes don’t require an LLC to adopt an operating agreement. However, if you don’t have one, your LLC will automatically be governed by the Wyoming Limited Liability Company Act.
Do I have to file my operating agreement in Wyoming?
No. Your operating agreement is an internal document, kept on record with your LLC.
Does a single-member LLC need an operating agreement?
Yes. It may seem silly to adopt a written agreement with yourself, but doing so will allow your LLC to open a bank account, override Wyoming’s default LLC laws, and—perhaps most significantly for a single-member LLC—guard your limited liability status. Without an operating agreement, a single-member LLC can seem perilously similar to a sole proprietorship—a business entity without limited liability protection.
*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.