An operating agreement is as internal document drafted during the initial stages of formation that is used to strengthen the organizational structure of an LLC. There is no legal obligation to draft an agreement in Nevada, though it may very well be the only documentation regarding the relationship between the company officials and the entity itself. Each member will need to agree to the terms and conditions described within the agreement which, in turn, will provide you with legal proof that all relevant parties are aware of the rules and regulations that must be followed. A template has been provided below, available for download in MS Word and PDF formats.