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question.jpgIn Business Law

What is the document that governs how an LLC operates?

While the articles of organization create the LLC, it is not the document that contains the details about how the LLC is to be run and operated. That document is a separate and longer one, generally known as the LLC operating agreement. By way of comparison, the document that provides for how a partnership is to be managed is known as the partnership agreement and the similar document for a corporation is the bylaws.