Here is a Membermanaged Operating Agreement template available in 3 formats. This can be used for a Single-Member LLC or a Multi-Member LLC.The agreement should set out members' rights to access business records and financial statements. 1.1 Formation and Qualification. This free LLC operating agreement was designed as a general template that can work in any state. Attorney provides you with a step-by-step video walkthrough of how to create your own Operating Agreement for your LLC for FREE! Oftentimes, for businesses starting out, an LLC is the optimal choice when considering entity formation options. The company and its business assets are also protected from the liabilities of the owner, just like in a multimember LLC. It also governs the internal operations of the business. Once an operating agreement is signed, it becomes a binding contract.