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If you're not sure who is serving as the LLC's registered business agent, the information is available through the Secretary of State's office in the state where your business is registered. The same office may also have a copy of your LLC operating agreement, although filing such agreements is generally not required.

As a quick refresher, operating agreements are legal documents that ensure the LLC is conducted in a proper manner and protects the personal liability of the business. Most states do not require LLCs to have this document, so many LLCs choose not to draft one.

The core elements of an LLC operating agreement include provisions relating to equity structure (contributions, capital accounts, allocations of profits, losses and distributions), management, voting, limitation on liability and indemnification, books and records, anti-dilution protections, if any, restrictions on

One thing that the new Act did not do was add a requirement that LLC operating agreements must be in writing to be enforceable. Under the new Act, as with the old law, an LLC operating agreement may be written or oral.

The document the owners must file with the state to officially form the LLC is called articles of organization. There is a certain minimum amount of information that the law requires the owners to provide before the state can accept the articles for filing.

An LLC operating agreement contains clear provisions about each owner's contributions to the business, their share of profits and their responsibilities to the company and other members. That means the agreement is a good dispute resolution tool.

An operating agreement is a key document used by LLCs because it outlines the business' financial and functional decisions including rules, regulations and provisions.Once the document is signed by the members of the limited liability company, it acts as an official contract binding them to its terms.