Importance of an Operating Agreement
An operating agreement is critical for every limited liability company (LLC) in Missouri. This document defines the ownership, management, members’ rights, and responsibilities. It serves to help resolve member disputes and protects members’ assets. Without an agreement, your personal liability might increase. Having an operating agreement in place protects your interests.
Customizing Your Operating Agreement
Customize your Missouri operating agreements to suit your company’s operations and structure. Ensure you:
- Follow state laws in the document.
- Appoint an in-state registered agent for foreign LLCs.
- Register foreign LLCs with Missouri’s Secretary of State.
The details of the operating agreement usually cover the operations, voting rights, and the powers of each member. It’s typically 15-20 pages long and is for internal reference only. Default LLC rules are provided by the state of Missouri, but these can be overridden by a written operating agreement, giving LLC members flexibility to suit their specific needs.
Registration for Foreign LLCs
Foreign LLCs intending to operate in Missouri must:
- File the "Application for Registration of a Foreign Limited Liability Company."
- Appoint an in-state registered agent.
The filing fee for registration is $50 online or $105 by mail.