A Georgia multi-member LLC operating agreement is a legal document completed by the limited liability company’s multiple owners to define the entity’s structure, establish internal governance terms, and mitigate potential disputes. The agreement addresses financial matters such as profit distribution, capital contributions, and allocation of losses among members.
While not mandatory, implementing this document is essential to safeguard members’ personal assets by legally separating them from business liabilities. Without it, members risk personal responsibility in litigation and forfeit potential tax benefits.
