https://youtu.be/P0L4-naDotk

Why do you need an operating agreement for an LLC? An operating agreement is not required by law in Illinois, but you're doing yourself a disservice not having one. They're important for banking and financial transactions. They set up a roadmap for avoiding problems and for handling ones that do arise, and they help keep good relationships between owners good.

How do they help with money? Often banks will require an operating agreement in order to open a business bank account for the LLC.. Banks will almost always require an operating agreement when the LLC is taking out any kind of loan. If you ever sell the LLC, the buyer will want to see the operating agreement so they know they're dealing with the correct representatives of the business with aut ...