A West Virginia multi-member LLC operating agreement defines the ownership, management, and operational protocols of a company among its several members. While the state doesn’t require the filing of this document for an LLC to operate, LLC members should complete it to benefit from the protection it offers.
By clearly listing the members’ contributions, ownership percentages, and the valuation of each member’s interest, the agreement ensures the financial independence of personal assets from the company’s liabilities. The agreement also minimizes disputes because members use it to agree on specific operational policies and procedures and a cohesive governance structure.
