ContinueLLC Operating Agreement • February 14th, 2021
A Pennsylvania multi-member LLC operating agreement is a legal document that will be used specifically by companies that have more than one (1) member. This document will help guide members through the establishment of company procedures and policies, member lists, member duties, and responsibilities among other important aspects of the entity. It is not a necessary document for businesses to operate within the state of PA. However, without the implementation of the documents, the member's personal assets will likely become vulnerable to liquidation if, in fact, the entity is presented with any kind of litigation or business failure that would require legal liability to the claimant and/or creditor. By completing this document, although the company will remain responsible, the member's assets will remain protected, because, this document will provide a clear separation between the member and the entity. Documents should be carefully reviewed by all members to ensure that all members un