In Texas, an operating agreement isn’t required to form a limited liability company (LLC). However, business attorneys, accountants and advisors agree that no LLC should form without one. An LLC ...

Operating agreements are pivotal in outlining a business’ financial and functional decisions. It’s the guiding document that bonds and legally protects business partners. Nonetheless, up-and-coming ...

A limited liability company's partnership operating agreement is an internal document that governs the company. The operating agreement establishes the roles and responsibilities of the LLC's members ...

An LLC operating agreement isn’t required in most states, but it’s an important legal document for a business. Many, or all, of the products featured on this page are from our advertising partners who ...

Operating and franchise agreements are both used to structure the way businesses function and the responsibilities that business owners have. However, they are used in notably different situations. An ...

The American Association of Professional Landmen is expected to release a revised Form 610-1989 Model Form Operating Agreement within the next few days. It is our understanding that the revised Form ...

What could possibly go wrong if you and your fellow limited liability company owners decide to operate your LLC without an operating agreement? Lots of things, many of which could cause you ...

In Maro, six physicians, who were already colleagues in an existing medical practice, agreed to form a new entity that they hoped would allow them to earn higher profits with a number of other doctors ...

We have received numerous comments from administrators that an attorney has recommended the involvement of a valuator during the formation of a hospital-physician venture such as surgery, imaging, ...

Nap Gary is chief operating officer of Regent Surgical Health, a leader in surgery center management and development since 2001. Mr. Gary oversees operations and physician relations at more than 20 ...