Every newly formed limited liability company will benefit from the drafting of an operating agreement to detail any provision related to the management of its affairs. Our template has been made available in both PDF and MS Word format and can be downloaded free of charge here on our site. This document isn’t only useful for clarifying relations between members and the company, it can also indicate to financial institutions and other businesses that your company is both well organized and well managed. All statutes regarding the LLC operating agreement can be found here in code HI Rev Stat § 428-103 (2010 through Reg Sess).