Operating Contract (Multi-Member, Member-Managed) (Simple) (California)

The Operating Contract (Multi-Member, Member-Managed) (Simple) (California) template is a legally binding document that outlines the rights, responsibilities, and operating procedures for a limited liability company (LLC) based in California. Specifically designed for LLCs with multiple members and a member-managed structure, this template offers a straightforward and user-friendly agreement suitable for small businesses operating in the state. The operating contract covers essential provisions such as the purpose of the LLC, capital contributions, profit and loss allocation, voting rights, decision-making procedures, management duties, and the transfer of membership interests. With its simplicity and emphasis on member management, this template provides a solid foundation for LLCs seeking to establish fair and clear guidelines for their operations within the legal framework of California.