Does an LLC have Bylaws?/ What is an Operating Agreement?
Bylaws are the internal rules for a Corporation. An LLC does have By-laws, except that they are not referred to as By-Laws, they are referred to as the Operating Agreement. An LLCs Operating Agreement, similar to By-laws, is the internal rules of the LLC. With out an Operating Agreement, the rules for managing the LLC are defined by the State. My-LLC.biz provides a templated standard Operating Agreement covering all the major topics generally covered by operating agreements. You can customize these terms as you need. My-LLC.biz can also provide a customized Operating Agreement drafted specifically for your company.
