Operating Agreement

[Timothy Riley]

Does Illinois include an operating agreement as part of a Series LLC or will this have to be done in additon to the process.

[Chris Simmons]

Im in oklahoma but i understand that all states operate the same in this regard. Basically, if you don't provide your own, tailored to your needs, you get the default version provided by the state. Not only will it not likely suit your needs very well, it will be binding without significant efforts to modify it after the fact. In short, right your own. You can view lots of them online and base yours on those. You don't have to reinvent the wheel. If you are willing to skip this step, you are likely not going to follow through with everything else associated with properly maintinaing an llc so why bother forming one?