It is highly advisable, though not legally required, that newly registered limited liability companies draft an operating agreement to standardize the various rules and regulations under which the company will operate. Defined within this document are a number of details not found in the initial formation applications that, when implemented correctly, can greatly fortify the internal organization of your LLC. Since the State Corporation Commission has no requirement that an operating agreement by filed, a copy of the agreement should be given to each relevant member to review. A free template agreement has been made available for download, linked above and on the photo below.
Free Virginia LLC Operating Agreement Template | PDF | Word
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