According to the Arizona State Legislature Title 29 the operating agreement allows for members and managers to create, amend, and remove specific rules and regulations that dictate how the business is to be run. This particular form will also speak directly to other aspects of the LLC in operation such as the statutory agent, business address, and business powers. An operating agreement is a highly recommended, yet not necessary, aspect of forming an LLC. Completing one and having it legally bound will aid in the longevity of your LLC and can make any future bumps in the road a little bit smoother to handle. We have provided a template on this webpage in both MS Word and PDF formats.