![Delaware LLC Operating Agreement Template [PDF]](https://contracts.net/_next/image?url=%2Fimages%2Fdocuments%2Fplaceholder-general.png&w=384&q=75)
Outline all the details on how your company will be operated by creating a Delaware LLC operating agreement using our advanced template.
Customized for Delaware This document may be legally binding in Delaware according to your state specific regulations.
The Delaware limited liability company (LLC) operating agreement is a legal document that defines the status of each member within the LLC and provides details on how the company will be operated on a day-to-day basis.
The LLC operating agreement, or business operating agreement, gives members the freedom to determine the operation of the LLC and their relationship according to their specific business model and their needs.
This is also enabled by federal and state laws that provide a broad framework of rules that regulate the status of LLCs.
Yes, the operating agreement is a required document when establishing an LLC in Delaware. Section 18-201(d) provides that the operating agreement must be entered into before, after, or at the time of the filing of a certificate of formation.
When drafting an operating agreement in Delaware, there are four main types of agreements you can choose from:
Title 6, Subtitle II, Chapter 18, called the Limited Liability Company Act, regulates the status of LLCs in Delaware.
Moreover, there are a few sections that regulate the status of the operating agreement in particular:
The easiest way to form an LLC in Delaware is to follow the step-by-step process outlined below:
When establishing an LLC in Delaware, you should choose a business name. The name must be distinguishable from the names used by other companies registered in Delaware. You can do an entity name search and check if your business name is distinguishable from others.
In Delaware, you can choose between two main types of LLCs based on where they are established. Therefore, we have:
Every LLC in Delaware must have a registered agent who can receive documents from the Division of Corporations on behalf of the LLC. The Division of Corporations has provided a list of Delaware registered agents that fulfill the standards.
Domestic LLCs must file the Certificate of Formation by filling out the form provided by the Delaware Division of Corporations.
For foreign LLCs, the members must file the Certificate of Registration of a Foreign Limited Liability Company. Here, the Delaware Division of Corporations has also provided a form and instructions for filling it out.
When submitting your application, you should also attach a check for the application fee.
The fee for forming a domestic LLC is $90, and the fee for a foreign LLC is $200.
When submitting an application, you are also required to send a cover memo. The Division of Corporations has created a fillable form you can use to create the cover memo.
Based on how many members the LLC will have. You can create a single-member operating agreement or a multi-member operating agreement. The operating agreement doesn’t have to be registered with the Division of Corporations.
This number is necessary if you want to apply for the company bank account or complete certain transactions. You can apply for the EIN on the IRS website or by filling out the SS-4 form.
