An operating agreement is a document that can be used by businesses to characterize the guiding rules and regulations as well as general corporate structure of the operational LLC. In the state of Indiana it is not mandatory for businesses to adopt an operating agreement, however we highly recommend that all LLCs take the time to do so. Drafting this agreement can pay dividends for your company by helping to avoid conflicts between participating bodies. Adopting an operating agreement at the onset of operation can help to establish what the roles and expectations of all of the participating individuals are. If you are interested in adopting an operating agreement for your respective LLC, please make use of the template we have provided below. This template is available in both MS Word and PDF format.