In Missouri, a limited liability company needs an operating agreement. This agreement outlines ownership, management, members’ rights and responsibilities. It is legally binding. LLCs don’t file it with Missouri. The state requires it, though. The agreement helps resolve disputes between members and protects members’ assets.
Customizing Your Operating Agreement
LLCs should customize their Missouri operating agreement to reflect their structure and operations, ensuring it follows state laws.
Registration for Foreign LLCs
Foreign LLCs must register with Missouri’s Secretary of State and appoint an in-state registered agent. They register by filing the "Application for Registration of a Foreign Limited Liability Company" with fees:
- Online filing: $50
- By mail: $105
The purpose of an LLC operating agreement is to define rules and guidelines for a business, protecting the owner’s personal liability and interests. Without the agreement, personal liability might increase. The agreement details the LLC’s operations, member powers, and voting rights. Typically, the document ranges from 15 to 20 pages and does not require public disclosure. Members can use it to override Missouri’s default LLC rules.
How to Write an Agreement
To write an operating agreement for a single member LLC, it should include basic information such as ownership, management, rights, and responsibilities, tailored to the company’s structure and operations, in compliance with Missouri state laws.
Is an LLC Agreement the Same as an Operating Agreement?
Yes, an LLC agreement is the same as an operating agreement. It is a legally binding document that outlines the business’s structure and operational guidelines.