In Missouri, a limited liability company needs an operating agreement. It outlines LLC ownership, management, members’ rights and responsibilities. Following state laws in the document is essential. The agreement helps resolve disputes between members and protects members’ assets.
LLCs should customize their Missouri operating agreement. They need to tailor it to structure and operations. The agreement is legally binding. LLCs don’t file it with Missouri, but the state requires it.
To register, foreign LLCs file the "Application for Registration of a Foreign Limited Liability Company". They need to appoint an in-state registered agent. Foreign LLCs must register with Missouri’s Secretary of State. The online filing fee is $50 or $105 by mail.
Having an agreement protects your interests. Even if your state doesn’t require one, the purpose of an LLC operating agreement is to define rules and guidelines for a business. As the business owner, your personal liability might increase without the structure in an operating agreement.
By keeping your LLC operating agreement up-to-date in Missouri, you are giving yourself and your business the respect it deserves from Missouri courts.
In Missouri, a single-member LLC is considered the same as a multiple-member LLC from a legal perspective, so both types of LLCs must have an operating agreement. In all other states, sole proprietorships and LLCs with two or more members are not required to have an operating agreement. However, creating one can still be a good idea even if you have no other members or aren’t planning to take on new members.