a multi-member llc (also called a “member-managed llc”) is a limited liability company that has more than one owner but no managers. an llc operating agreement is crucial for a multi-member llc, as these are the llcs most likely to suffer from internal disputes. if you have two or more owners who are all going to be involved in the day-to-day operations of running the llc, you’re on the right page. if you are the one and only one owner of the llc, you just need a simple single-member llc operating agreement. our multi-member llc operating agreement goes into great detail as to what you agree you’ll do should the other party decide to no longer be a part of the llc or do their share of the required work. we have online tools to help keep your llc in compliance. this article also notes that members are not obligated to contribute more later on. distributions can be annually or more often, assuming the llc’s expenses and liabilities are paid up.