A Maine multi-member LLC operating agreement is a critical document that outlines the policies and procedures of a limited liability company with multiple owners. Its purpose is to protect the personal and financial assets of the members by separating them from the expenses and debts of the company.
Furthermore, an operating agreement provides LLCs access to tax benefits that would otherwise be unavailable. It is mandatory to have an operating agreement to form an LLC in the State of Maine. The agreement makes the company responsible for its debts, liabilities, and obligations instead of individual members.
