LLC Operating Agreement (Multi-Member)

OPERATING AGREEMENT
OF
[LLC NAME], LLC
This Operating Agreement ("Agreement") is made and entered into as of [Date], by and among [Member A Name], [Member B Name], and [Member C Name] (collectively, "Members"), and [LLC NAME], LLC, a Limited Liability Company organized and existing under the laws of [State] ("Company").
RECITALS:
WHEREAS, the Company is being formed as a Limited Liability Company for the purpose of acquiring, owning, managing, and selling real property; and
WHEREAS, each Member desires to contribute capital and/or expertise to the Company and desires to set forth the terms governing the Members' rights, obligations, and distributions.
NOW, THEREFORE, in consideration of the mutual covenants herein, the parties agree as follows:
ARTICLE I: FORMATION AND STRUCTURE
1.1 Formation. The Company is formed as a Limited Liability Company under the [State] Limited Liability Company Act, with the Certificate of Formation filed with the Secretary of State of [State].
1.2 Principal Office. The principal office of the Company is located at [Principal Office Address], [City], [State] [Zip].
1.3 Registered Agent. The registered agent is [Registered Agent Name], located at [Registered Agent Address].
1.4 Purpose. The Company is formed to acquire, own, lease, manage, develop, and sell real property and to engage in related business activities.
ARTICLE II: MEMBERSHIP INTERESTS
2.1 Members and Ownership Percentages. The Company shall have three (3) members with the following membership interests:
(a) Member A: [X]% ownership interest
(b) Member B: [Y]% ownership interest
(c) Member C: [Z]% ownership interest

[Section 2 — continued...]

[Section 3 — fill in your details...]

[Additional clauses and provisions apply...]