Missouri Llc Operating Agreement: Fill & Download for Free

Operating Agreement outlines the business' financial and functional decisions including rules, regulations and provisions. Once the document is signed by the members of the limited liability company, it acts as an official contract binding them to its terms. The document is drafted to allow owners to govern the internal operations according to their own rules and specifications. The absence of this document means that your business has to be run according to the default rules of your state.Drafting an Operating Agreement is on of the regulatory requirements for LLCs formed in many states to be in compliance, and in general is highly recommended.The following states mandate all LLCs to have Operating Agreement:CaliforniaDelawareNew YorkMissouriMaine

It is not the case that all states require that a limited liability company have a written, signed operating agreement.Indeed, most states do not require an operating agreement at all!I blogged about this more than one year ago. Quoting Is an Operating Agreement Required for an LLC?:I have written many times about limited liability company operating agreements. This post answers the following question: Is an operating agreement required?As is the case for many issues pertaining to limited liability companies, the answer varies from state to state. To answer this question, we need to examine the relevant statutes for each state.Most States, Operating Agreement Not RequiredMost states do not require that an LLC have an operating agreement. For example:In California, Corporations Code Section 17701.02(s) defines an operating agreement. However, the statutes that govern formation of LLCs do not require an operating agreement.In Delaware, Limited Liability Company Act Section 18-101(7) defines a limited liability company agreement (Delaware’s term for an operating agreement). But here, too, the statutes that govern formation of LLCs do not require an operating agreement.Some States, Operating Agreement RequiredHowever, some states do require an operating agreement.The following are the states of which I am aware. If I learn about others, I will add them.Maine – Revised Statutes Section 1531.1.B states, in relevant part: “In order to form a limited liability company [a] limited liability company agreement must be entered into or otherwise existing.”Missouri – Revised Statutes Section 347.081 states, in relevant part: “The member or members of a limited liability company shall adopt an operating agreement containing such provisions as such member or members may deem appropriate….”New York – Limited Liability Company Law Section 417 states, in relevant part: “Subject to the provisions of this chapter, the members of a limited liability company shall adopt a written operating agreement that contains any provisions not inconsistent with law or its articles of organization….”

Are you doing it yourself without the aid of an attorney?If you are doing this yourself, you’ll pay for the items below at the Missouri Secretary of State website. Specifically, you’ll do business on their Missouri Online Business Filing page. Setup an account if you need to.Fictitious Name Filing = $8.25 (if applicable)This applies if you are using a name other than your own.Articles of Organization - $51.25This is your biggest and primary cost.Certificate of Good Standing - $10.00 (Optional)Will you be setting up a bank account for this LLC? I’m 99% certain EVERY bank in Missouri will want this document. But for now, I’m calling it optional.Other CostsWhen setting up your bank account, don’t be surprised if the institution needs an Operating Agreement. Don’t worry, you can get one free by setting up a free account at Rocket Lawyer.com.If this is a multi-member LLC, then get an attorney to draw one up. You’ll need/want it.Apply for EIN OnlineThere is NO cost for obtaining an EIN for your LLC. Also, if this is a single-member LLC, this step is optional. You can apply online at the IRS website.SummarySo in total, you’re looking at a maximum of $69.50 if you include the fictitious name filing and the certificate of good standing.