According to the Colorado Revised Statute 7-90-301, an operating agreement can be used to outline the rules and regulations that govern the relationships between managers, owners, employees, and their associated LLC. Having an operating agreement allows for a written agreement to be set into place about how exactly the LLC is to operate. While this is not a mandatory aspect of forming an LLC, having an operating agreement is often cited as a reason why companies maintain long-term health and longevity. Having an operating agreement in place often allows for issues to be resolved before they become distracting and problematic. Feel free to download our free template downloadable below in both Adobe PDF and Microsoft Word formatting.
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