What is included in a Washington operating agreement?
The operating agreement is the guiding document for how your Washington State LLC will manage “big-picture” situations. Your operating agreement can technically include anything not prohibited by Washington State laws. Below are some topics your operating agreement should cover:
- Transfer of membership interest
- Voting rights and decision-making powers
- Initial contributions
- Profits, losses, and distributions
- Management
- Compensation
- Bookkeeping procedures
- Dissolution
A list of what is prohibited from Washington State operating agreements can be found in WA Rev Code § 25.15.018 (2020).
What information do I need to use Northwest’s free Washington LLC operating agreement?
Want to focus on your business and leave the legal hullabaloo to us? Our lawyers drafted a comprehensive operating agreement you can use for free. You can even fill it out on this page, save it in a free account for later, and download a completed draft to sign.
In order to fill out our free operating agreement template, you’ll need your:
This must be your business’ legal entity name, or the name you put on your LLC Articles of Organization.
Did an LLC member contribute $500? $5k? A storefront? Put that here.
You’ll just write in 16 here since our version has a set amount of pages.
Remember, this is an internal document, so you won’t have to submit these names to the state just because they’re on here. However, you might need to add these people to your BOI Report.
Include any initial contributions, even if it’s only a small percentage.
While we recommend having a business bank account, some banks like to actually see the operating agreement before you open the account. If that’s the case, you can leave this blank for now.
This is the place your business operates from.
You can add this in later if you aren’t sure when your meeting will be held.
There’s a few different spots where you’ll need to add at least one members’ signature. These are on pages 13, 14, 15, and 16 on our template.
FAQs
Washington state doesn’t legally require an LLC to adopt a written operating agreement. However, a written operating agreement is important for proving ownership and limited liability status. It can also help you resolve disputes.
No, Washington state does not require you to file your operating agreement. The operating agreement is an internal document that your LLC should keep on file.
Yes. It might seem unnecessary to sign an agreement with yourself, but having a written operating agreement will allow your LLC to open a bank account and override default Washington LLC statutes. And—crucially for a single-member LLC—your operating agreement helps demonstrate a clear separation between yourself and your business, better protecting your limited liability.
*This is informational commentary, not advice. This information is intended strictly for informational purposes and does not constitute legal advice or a substitute for legal counsel. This information is not intended to create, nor does your receipt, viewing, or use of it constitute, an attorney-client relationship. More information is available in our Terms of Service.