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It is very important to have a written operating agreement for your LLC and there are quite a few reasons for that.
First of all in order to verify other a person has the authority to sign a legal documents for an LLC, entities such as banks and title companies will ask to see the written LLC Operating Agreement.
An LLC Operating Agreement is the only document that can definitely give that verification of authority.
for the protection you need to know this. a business relationship is the same as a marriage and sometimes it ends up in divorce.
having a read an operating agreement is in everyone's benefit in case your business relationship go sour overtime. oral agreements between members of doing the initial formation of the LLC of may not be enough in cases like this.
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