New York LLC Operating Agreement

Yes, New York is one of the few states that explicitly requires a written operating agreement for all LLCs. According to NY LLC Law Section 417, the agreement must be adopted within 90 days of filing your Articles of Organization.

New York law requires specific provisions including: rights and duties of members, management of the LLC, voting rights on matters requiring member approval, limitations on liability of members, and provisions for member meetings. Our template includes all required provisions.

Yes, New York requires LLCs to publish a notice of formation in two newspapers (one daily, one weekly) in the county where the LLC is located for six consecutive weeks. This is a separate requirement from the operating agreement.

Yes. Our operating agreements are accepted by major banks including Mercury, Chase, Bank of America, and others. The document includes all standard provisions banks look for: member information, ownership structure, and authorization for banking activities. Thousands of our clients have successfully used our agreements to open US bank accounts.

Yes, operating agreements can be amended at any time with the consent of members as specified in the original agreement (typically majority or unanimous approval). Common reasons for amendments include adding or removing members, changing ownership percentages, modifying profit distributions, or updating management structure.

In a member-managed LLC, all members participate in daily business decisions. In a manager-managed LLC, designated managers (who may or may not be members) handle operations while other members are passive investors. Our operating agreement lets you choose either structure and clearly defines the rights and responsibilities of each role.