Set the rules for how your LLC is owned and run — ownership shares, management, profit splits, and what happens if a member leaves. Answer a few plain-English questions and your customized agreement is ready in minutes.
This Operating Agreement of Lakeside Digital, LLC, a Texas limited liability company, is entered into by its Members as of July 25, 2026.
1. Ownership
Membership interests are held as follows: Jordan Avery — 60%; Sam Rios — 40%.
2. Management
The Company shall be member-managed. Decisions outside the ordinary course of business require a majority vote.
3. Distributions
Profits and losses are allocated in proportion to ownership
Signature
Signature
What’s included
What your LLC Operating Agreement covers
your answers shape each section — anything that doesn’t apply stays out
Ownership & membership interests — Who owns the LLC and in what percentages
Capital contributions — What each member invests — cash, property, or services
Management structure — Member-managed or manager-managed, with duties defined
Voting rights & decisions — What requires a vote and what majority is needed
Profit & loss distributions — How and when money flows to members
Adding & removing members — How ownership can change hands
Member exits & buyouts — What happens when someone leaves, retires, or passes away
Dissolution terms — How the company winds down if it comes to that
The plain-English briefing
What is an LLC Operating Agreement?
An LLC Operating Agreement is the internal rulebook for your limited liability company. It records who owns the business and in what percentages, how decisions get made, how profits and losses are divided, and what happens when things change — a member wants out, a new member joins, or the company winds down.
Without one, your LLC is governed by your state's default rules — one-size-fits-all laws that may not reflect how you and your co-owners actually want to run the business. A few states, including California and New York, require LLCs to adopt an operating agreement; nearly everywhere else it's strongly recommended, and banks, lenders, and investors routinely ask to see one.
Why it matters
Beyond meeting requirements, a signed operating agreement reinforces the legal separation between you and your company — the foundation of your limited liability. It also prevents the most expensive kind of business dispute: the one where nothing was written down. Ownership splits, voting rules, and exit terms are far easier to agree on before they're contested.
BizDocs builds your agreement from your answers — your state, your members, your management structure — so the finished document fits your company instead of forcing your company to fit a template.
How it works
Three steps to a finished document
1
Answer questions
Plain-English questions about your situation, parties, and terms.
2
Review the document
Read what was written from your answers and fine-tune any section.
3
Download & use
Export as PDF or Word — and come back to edit any time.
Fair questions
LLC Operating Agreement questions
An LLC Operating Agreement is the internal document that sets the rules for how your limited liability company runs — who owns what percentage, how decisions are made, how profits are split, and what happens if a member leaves. It's the operating manual for your business, agreed to and signed by every member.
A few states — including California and New York — require LLCs to have an operating agreement. In most states it's optional, but strongly recommended: without one, your LLC is governed by your state's default rules, which may not match how you actually want to run your business. Banks, lenders, and investors also commonly ask to see one.
Yes, it's a good idea even with one owner. A single-member operating agreement helps show that your LLC is a separate legal entity — which supports your liability protection — and is often required to open a business bank account.
Core sections typically cover ownership percentages, capital contributions, how profits and losses are distributed, management structure and voting rights, how new members are admitted, what happens when a member exits, and how the LLC can be dissolved. The BizDocs questionnaire walks you through each of these decisions in plain English.
Yes. Your answers — including your state, whether your LLC is member-managed or manager-managed, and how many members you have — shape the sections and language of the final document, so you're not left editing a generic template.
Yes. Operating agreements can be amended whenever members agree to a change — common triggers are adding a member, changing ownership splits, or updating management rules. You can edit your BizDocs document anytime, or create an amendment.
Generally, no — an operating agreement is usually effective once all members sign it. Notarization isn't typically required, though some businesses choose it for extra formality. Check your state's requirements if you're unsure.
Your finished agreement downloads as both a polished PDF and a fully editable Microsoft Word (.docx) file, professionally formatted with numbered sections and signature blocks.