How can I make sure my LLC operating agreement is valid?
I recently started a family business. We started a contract outlining positions. Can you tell me if it is official?
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If your LLC Operating Agreement clearly outlines roles like CEO, CFO, and COO, and it’s been signed by all members, then yes—it is considered official as a binding internal agreement, even without a lawyer’s signature.
However, to make sure it’s legally solid, here are a few quick things to check:
- Is the LLC properly formed and registered with your state?
- Does the Operating Agreement include:
- Ownership percentages
- Voting rights
- Profit/loss distribution
- How members can join or leave
- Rules for resolving disputes
- Has each member signed and dated the agreement?
If all of that’s in place, you’re off to a strong start. That said, a legal review could help spot gaps—especially with succession planning, liability protections, and tax matters.
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I recently started a family business. We started a contract outlining positions. Can you tell me if it is official?
Lexi, Chatbot
Starting a family business can be exciting! Can you provide more details about the contract you have in place?
It's an LLC Operating Agreement.
Lexi, Chatbot
Have you had a lawyer review the contract to ensure it meets all legal requirements for it to be official?
No, that is my objective today.
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they’ll be able to help with your LLC Operating Agreement.
No.
Gurney P
Welcome and thank you for using AskaLawyer. My name is Gurney, and I'm the attorney who will be assisting with your question.
Gurney P
What kinds of roles and responsibilities are outlined in your LLC Operating Agreement?
CEO, CFO and COO roles.
Gurney P
Thanks for sharing that!
Gurney P
If your LLC Operating Agreement clearly outlines roles like CEO, CFO, and COO, and it’s been signed by all members, then yes—it is considered official as a binding internal agreement, even without a lawyer’s signature.
However, to make sure it’s legally solid, here are a few quick things to check:
- Is the LLC properly formed and registered with your state?
- Does the Operating Agreement include:
- Ownership percentages
- Voting rights
- Profit/loss distribution
- How members can join or leave
- Rules for resolving disputes
- Has each member signed and dated the agreement?
If all of that’s in place, you’re off to a strong start. That said, a legal review could help spot gaps—especially with succession planning, liability protections, and tax matters.
Gurney P
Does that help?
Yes, all is included in the agreement.
Gurney P
It seems like it, yes.
Gurney P
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