A Illinois Operating Agreement creates the policies and procedures for your LLC. Our free, attorney-drafted templates can get you started.Download a free Illinois LLC Operating Agreement template (Word, Google Doc, PDF). List LLC Members, profit splits, tax info and more. An Illinois LLC operating agreement is a binding document that establishes a company's ownership, operations, and officers. 10. The operating agreement provides for the establishment of one or more series. An Illinois LLC Operating Agreement is a legal document for LLC members to document how an LLC in Illinois will be run. Make yours for free and save, print. In this video we'll cover a quick overview of llc's and operating agreements laws specific to the state of illinois. Illinois requires you to file an initial report after forming your LLC.