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Follow our comprehensive guide on how to draft the Louisiana operating agreement using our specially designed and customizable template.
Customized for Louisiana This document may be legally binding in Louisiana according to your state specific regulations.
The Louisiana limited liability company (LLC) operating agreement is a legal document that provides details on each member’s contribution, rights, and duties within the company. This makes the cooperation between the members of the LLC more efficient, and it prevents potential disputes between them.
The LLC operating agreement, or business operating agreement, doesn’t have a strict form since the federal and state laws provide only a minimal framework for the operating agreement and leave it to the members of the company to regulate the operation of their company.
No, the operating agreement is not a required document in Louisiana.
However, the benefits of having an operating agreement are that the document will provide more security between the members in terms of the operational structure of the company and prevent any misunderstandings between them.
Before drafting the operating agreement, parties need to choose the type of document that suits their best needs:
Title 12 of the Louisiana Revised Statutes regulates the status of limited liability companies in the state.
Moreover, there are a few sections that regulate the operating agreement, in particular:
In Louisiana, there are four main types of operating agreements the parties can choose from when establishing an LLC:
Before applying for LLC registration in Louisiana, you should first choose the business name. It must be distinguishable from other business names used by other companies registered in Louisiana.
To check if your business name is distinguishable, do an entity search on the Secretary of State website.
Here, you have two options based on the place where the LLC is established:
The last step before filing your application is to appoint a registered agent. The registered agent will be responsible for receiving the official notifications and documents on behalf of the LLC.
It can be an individual with a residence in Louisiana or an entity that has the authority to conduct business in Louisiana.
For domestic LLCs, you should submit the Articles of Organization. You can complete this step online after creating an account or by completing Form SS365.
For foreign LLCs, you should submit the Application for Authority to Transact Business in Louisiana. Here, you can also send the online application or complete Form SS972.
For domestic LLCs, the application fee is $100, while for foreign LLCs, you will have to pay a $150 application fee. If you apply online, an additional fee of $5 will also be charged.
After submitting your application, you can create the operating agreement. This document is not required by state law, but it enables the optimization of the LLC and prevents potential misunderstandings between the members.
This number is crucial if you want to open a company bank account and if you want to complete certain transactions and hire employees. You can obtain it online or by filling out Form SS-4.
