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Does Maryland require LLCs to have a written operating agreement?

 

A: No.  The Maryland LLC Act (the "Act") does not require that an LLC have a written operating agreement.  In its absence, the internal management and operation of the company is governed by the Act's default rules.  However, even without a written agreement, the Act requires that certain company acts be done in writing, including, among other things, any action requiring the unanimous consent of all of the members, acts undertaken outside of the ordinary course of business of the LLC and the admission of an assignee as a member.

Although a formal written agreement is not required by law, it is extremely ill advised to operate any LLC without a well-conceived written governing document.  Without the forethought and guidance that a written agreement provides, literally hundreds of events may transpire during an LLC's life cycle that can expose members to significant risk and unintended outcomes.  Please consult a qualified LLC attorney to discuss these issues prior to any business formation. 


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The Kramer Law Firm LLC represents small business clients throughout Washington, D.C. and Montgomery and Prince George's Counties in Maryland, including the communities of Bethesda, Bowie, Chevy Chase, Gaithersburg, Germantown, Laurel, Potomac, Rockville and Silver Spring and all of the surrounding areas.

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