--- title: "LLC Operating Agreement: The Corporate Handbook" description: Limited liability companies are splendid because of the ease of running the company and tax handling. LLCs do not, however, have any magical statutory structure to guide members in corporate matters between members or when the LLC passes to new owners or heirs. Enter the Operating Agreement. --- [Dan's Desk](https://www.gallatin-law.com/blog/author/dan-gallatin) - [lawyer](https://www.gallatin-law.com/blog/tag/lawyer) - [hugo](https://www.gallatin-law.com/blog/tag/hugo) - [MN](https://www.gallatin-law.com/blog/tag/mn) - [law](https://www.gallatin-law.com/blog/tag/law) - [attorney](https://www.gallatin-law.com/blog/tag/attorney) - [legal](https://www.gallatin-law.com/blog/tag/legal) [Subscribe](https://www.gallatin-law.com/blog/llc-operating-agreement-the-corporate-handbook#) 11/02/2016 # LLC Operating Agreement: The Corporate Handbook - - - - - [mailto:?subject=LLC%20Operating%20Agreement%3A%20The%20Corporate%20Handbook&body=https%3A%2F%2Fwww.gallatin-law.com%2Fblog%2Fllc-operating-agreement-the-corporate-handbook](mailto:?subject=LLC%20Operating%20Agreement%3A%20The%20Corporate%20Handbook&body=https%3A%2F%2Fwww.gallatin-law.com%2Fblog%2Fllc-operating-agreement-the-corporate-handbook) Limited liability companies are splendid because of the ease of running the company and tax handling. LLCs do not, however, have any magical statutory structure to guide members in corporate matters between members or when the LLC passes to new owners or heirs. Enter the **Operating Agreement**. An LLC's Operating Agreement is the corporate handbook that lays out the rules and procedures that must be utilized in matters such as annual meetings, significant decisions made by the company, admission or dismissal of members, and admission of new members. Like a marriage, nobody starts an LLC thinking it will end in a bitter dissolution. But, like too many marriages, LLCs do end in a bitter dissolution, even LLCs that start out as single member LLCs. The most prudent course of action when starting your LLC is to get an Operating Agreement in place at the inception of the LLC that protects you and sets the rules and procedures that you want. Use my experience to your advantage and get the Operating Agreement in place now, before you encounter problems in your company. The material contained herein is provided for informational purposes only and is not legal advice, nor is it a substitute for obtaining legal advice from an attorney. Each situation is unique, and you should not act or rely on any information contained herein without seeking the advice of an experienced attorney. All information contained in links are the property of the linked site. - [attorney](https://www.gallatin-law.com/blog/tag/attorney), - [hugo](https://www.gallatin-law.com/blog/tag/hugo), - [law](https://www.gallatin-law.com/blog/tag/law), - [lawyer](https://www.gallatin-law.com/blog/tag/lawyer), - [legal](https://www.gallatin-law.com/blog/tag/legal), - [Limited liability companies](https://www.gallatin-law.com/blog/tag/limited-liability-companies), - [LLC](https://www.gallatin-law.com/blog/tag/llc), - [minnesota](https://www.gallatin-law.com/blog/tag/minnesota), - [MN](https://www.gallatin-law.com/blog/tag/mn), - [operating agreement](https://www.gallatin-law.com/blog/tag/operating-agreement), - [protection](https://www.gallatin-law.com/blog/tag/protection), - [rules](https://www.gallatin-law.com/blog/tag/rules) ![Dan Gallatin](https://www.gallatin-law.com/hubfs/assets-mjfw/site%20images/Dans-Desk.jpg) ## [Dan Gallatin](https://www.gallatin-law.com/blog/author/dan-gallatin) Dan is a lifelong resident of Minnesota. Born in St. Paul, Dan spent many of his formative years growing up there before moving to White Bear Lake. After graduating from White Bear Lake, Dan spent four glorious years at the University of Wisconsin-Madison, earning a degree in two majors. Dan worked as a Senior Investigator at the Minnesota Department of Commerce for several years after graduating from college. During his final years Dan attended William Mitchell College of Law while still working full-time. During this exhausting 3 ½ year period Dan honed his skills in becoming an efficient, to-the-point legal practitioner. While at Madison Dan met his wife, Tonya, and together they moved to Minnesota to plant their roots. Dan and Tonya have two amazing, unique children and reside in Hugo. ### CONNECT WITH ME - ## Related Posts [12/18/2019 Minnesota Supreme Court Rules on Officer Liability for Defamation Statement The Minnesota Supreme Court extended personal liability for a company's defamatory statement in the matter of DeRosa v. McKenzie. This is a very… Read Post ](https://www.gallatin-law.com/blog/minnesota-supreme-court-rules-on-officer-liability-for-defamation-statement) [10/28/2015 LLCs - Minnesota Makes a Major Move Minnesota has shifted its Limited Liability Company, or LLC, legal landscape to comport with the rest of the country. Read Post ](https://www.gallatin-law.com/blog/llcs-minnesota-makes-a-major-move) ### Subscribe Here! ```json { "@context" : "https://schema.org", "@type" : "BlogPosting", "author" : { "@type" : "Person", "name" : "Dan Gallatin", "url" : "https://www.gallatin-law.com/blog/author/dan-gallatin" }, "dateModified" : "2020-08-21T22:43:38.067Z", "datePublished" : "2016-11-02T05:00:00.000Z", "headline" : "LLC Operating Agreement: The Corporate Handbook", "mainEntityOfPage" : { "@id" : "https://www.gallatin-law.com/blog/llc-operating-agreement-the-corporate-handbook", "@type" : "WebPage" }, "publisher" : { "@type" : "Organization", "logo" : { "@type" : "ImageObject", "url" : "https://www.gallatin-law.com/hubfs/logos/Gallatin-Logo-654x84.png" }, "name" : "Gallatin Law, PLLC" } } ```