Indiana LLC Operating Agreement Template [PDF]

Optimize the operation of your limited liability company by creating the Indiana operating agreement using our professional template.

Last update: 15 Feb 2024

Indiana LLC Operating Agreement Template [PDF]

The Indiana limited liability company (LLC) operating agreement is a legal document that the members use to define how the company will be operated and regulate their relationships within the company.

The LLC operating agreement, or business operating agreement, also defines the initial contribution of each member to the company and outlines their share in the company’s profit based on that contribution.

Is an Operating Agreement Required in Indiana?

No, the operating agreement is not required when registering an LLC in Indiana. However, if you want to prevent potential misunderstandings between the members and optimize the operation of the company, you should draft the operating agreement.

4 Main Types of Operating Agreements

Here, you can find the four main types of operating agreements used in Indiana:

Types of Operating Agreements

  • Single-member LLC operating agreement: Here, the single member of the LLC regulates the operation of the LLC and includes provisions that will help to identify the LLC as a separate entity from the member of the LLC as an individual.

  • Multi-member LLC operating agreement: This type of operating agreement is made by two or more members of the LLC who want to regulate the operation of the company and provide more details on the rights and duties of each member within the company.

  • Member-managed LLC operating agreement: Here, the members want to participate directly in the decision-making process in the company. Therefore, they create the operating agreement to define each member’s managerial rights and duties.

  • Manager-managed LLC operating agreement: With this type, members of the LLC want to have a passive role in the decision-making process, and they delegate their decision-making processes to professional managers using the operation agreement.

Laws and Legal Requirements for LLC Operating Agreements in Indiana

Title 23, Article 18 of the Indiana Code regulates the status of an LLC in Indiana.

Moreover, the status of the operating agreement in Indiana is regulated by a few sections of the Indiana Code:

Laws and Legal Requirements

How to Form a Limited Liability Company (LLC) in Indiana

This section describes every step in the process of establishing an LLC in Indiana.

How to Form a LLC in Indiana

#1. Choose a Business Name For Your LLC

Before submitting your application for registering the LLC, you should choose a business name. The name should be distinguishable from other names used by other companies registered in Indiana. To check if the business name you’ve chosen is distinguishable, you can conduct a business search of the Secretary of State’s records.

#2. Choose the Type of LLC

In Indiana, you can choose between a domestic and foreign LLC. If you are establishing a new LLC inside Indiana, you should opt for a domestic LLC. However, if you have already registered an LLC outside of Indiana and want to expand your business and register it in Indiana, you should choose the foreign LLC.

#3. Nominate an Agent

State law requires all the companies registered in Indiana to have a registered agent that will receive notices and documents on behalf of the LLC. It can be an individual with a registered address in Indiana or a legal entity with the authority to operate in Indiana.

#4. File the Formation Documents

If you want to register a domestic LLC, you should submit the Articles of Organization. You can do it online after creating an account, or you can file Form 49459.

If you are registering a foreign LLC, you should submit a Foreign Registration Statement. You can also submit your application online or file Form 56369.

#5. Pay the Required Fee

The application fees vary depending on the type of LLC you are forming and the way you choose to file your application documents:

  • For domestic LLCs, the application fee is $95 for online applications and $100 for applications via mail.

  • For foreign LLCs, the application fee is $105 for online applications and $125 for applications via mail.

#6. Create your LLC Operating Agreement

Although this document is not mandatory, you can draft it to optimize the operation of your company and prevent potential disputes between the members.

#7. Apply For an Employer Identification Number (EIN)

This number enables you to complete certain transactions and hire employees. You can obtain it online or by completing the SS-4 form.

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