Partnership & LLCIllinois

Free Illinois LLC Operating Agreement Template

Download a professional Illinois LLC Operating Agreement template. Compliant with the Illinois Limited Liability Company Act. Customizable and ready to use.

385 wordsUpdated June 11, 2026

Who is this template for?

New business owners forming a multi-member LLC in Illinois who need to define ownership percentages and management roles.
Single-member LLCs seeking to establish corporate formalities to maintain liability protection.
Partners looking to outline dispute resolution, profit distribution, and exit strategies to avoid future litigation.
Businesses requiring a formal document to open bank accounts or secure investment capital.

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1. ORGANIZATION

This Operating Agreement (the “Agreement”) is entered into as of [DATE] (the “Effective Date”), by and among the members listed in Exhibit A (the “Members”). The Members have formed a Limited Liability Company under the Illinois Limited Liability Company Act (the “Act”).

2. NAME AND PRINCIPAL OFFICE

The name of the Company shall be [LLC NAME]. The principal office of the Company shall be located at [ADDRESS], or such other place as the Members may determine. The Company may have such other offices as the Members may designate.

3. PURPOSE AND POWERS

The purpose of the Company is to engage in any lawful business for which a limited liability company may be organized under the Act. The Company shall have all powers necessary or convenient to carry out its business, including the power to enter into contracts, incur debt, and acquire property.

4. TERM

The term of the Company shall be perpetual unless dissolved in accordance with the provisions of this Agreement or the Act.

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