An LLC may choose to adopt an operating agreement upon formation to serve as a point of reference for the designation of the entity’s managing members, their capital contributions, as well as their individual rights and responsibilities within the company. Although it is not required that limited liability companies draft such a document, it will be the only file which relays the manner in which the internal affairs of the entity are to be managed. More detailed information regarding the exact requirements for this document can be found in the state statues under Title XXXVI 605.0105. Below, we’ve offered a free template which can be printed, filled, signed and filed by all necessary officers and directors.