LLC Agreement (Voting and Non-Voting Units, Managing Member-Managed) | Practical Law
A long-form LLC agreement (also known as an operating agreement or limited liability company agreement) to be used for a Delaware limited liability company (LLC) with two or more members and two classes of membership interests (denominated in units) consisting of voting and non-voting units. This Standard Document assumes that the LLC is managed by a managing member. This Standard Document includes integrated notes with important explanations and drafting and negotiating tips.