Legal Question in Business Law in Florida

I am trying to find some basic operating agreements for a small corporation. I keep finding operating agreements for LLC's but not corporations. I am a little confused as to why. Does a corpration need an operating agreement and if so, could I use a template from an LLC?


Asked on 2/27/11, 10:10 am

2 Answers from Attorneys
Richard Kaplan

LLC's have Operating Agreements. Something like a Partnership Agreement. A LLC is something of a blend between a corporation and a partnership. Here is a point where it is more like the latter.

Corporations have By Laws and Regulations instead. Both are formed by filing Articles, Articles of Incorporation for a corporation, and Articles of Organization for a LLC.

That's why you can't find an operating agreement for a corporation. They don't have them.

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Answered on 2/27/11, 10:20 am
Kevin B. Murphy Franchise Foundations, APC

As a Franchise Attorney I agree with the other attorney answer. LLC's have operating agreements; corporations do not. Corporations have Byaws, employment contracts, management consulting contracts and the like. Consult with a good business or franchise attorney in your area for specific advice.

Mr. Franchise - Kevin B. Murphy, B.S., M.B.A., J.D.

Franchise Foundations, a Professional Corporation

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Answered on 2/27/11, 12:42 pm


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