Partnership & LLCIllinois

Free Illinois Partnership and LLC Operating Agreement

Download a professional Illinois LLC Operating Agreement template. Compliant with the Illinois Limited Liability Company Act. Customizable for your business.

383 wordsUpdated August 3, 2026

Who is this template for?

New business owners forming a multi-member LLC in Illinois who need to define management roles and profit distribution.
Existing Illinois partnerships transitioning into an LLC structure to protect personal assets.
Business partners requiring a formal dispute resolution mechanism and exit strategy under Illinois law.
Startups seeking a robust legal framework to govern capital contributions and member voting rights.

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1. FORMATION AND PARTIES

This Limited Liability Company Operating Agreement (the "Agreement") is entered into as of [DATE] (the "Effective Date"), by and among [MEMBER 1 NAME] residing at [ADDRESS] and [MEMBER 2 NAME] residing at [ADDRESS] (collectively, the "Members").

2. NAME AND PRINCIPAL OFFICE

The name of the limited liability company is [LLC NAME], LLC (the "Company"). The principal office of the Company shall be located at [ADDRESS], Illinois, or at such other place as the Members may determine.

3. PURPOSE AND TERM

The purpose of the Company is to engage in [BUSINESS DESCRIPTION] and any other lawful business for which a limited liability company may be organized under the Illinois Limited Liability Company Act (the "Act"). The term of the Company shall be perpetual unless dissolved in accordance with this Agreement.

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