Document background
The Multi Member LLC Operating Agreement, adapted for English and Welsh law, serves as the primary governing document for businesses with multiple owners. While traditional LLCs don't exist in England and Wales, this agreement provides equivalent governance through either LLP or Ltd structures. It's essential when establishing a new business entity or formalizing arrangements between multiple business owners. The document covers crucial aspects including capital contributions, profit sharing, management rights, transfer restrictions, and dispute resolution mechanisms. It should be implemented at business formation or when transitioning from a different business structure, ensuring compliance with the Companies Act 2006 and related legislation.
