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Indiana, United States

Indiana LLC Operating Agreement

Set out who owns your Indiana LLC, who manages it, and how profits are split — and download a print-ready PDF. Single-member or multi-member. Free, no signup. The preview updates as you type.

Reflects current Indiana rules · 2026Official source linkedFree PDF · no signup · nothing uploaded

Maintained by the SealForms editorial team · Every state-specific figure on this page is cited to its statute or official agency page · Dataset last verified 2026 · Not legal advice.

Indiana LLC act rules · as of 2026

Required by law?
No — but strongly recommended
Recognized form
"any written or oral agreement of the members as to the affairs of a limited liability company and the conduct of its business" — Ind. Code § 23-18-1-16
Governing act
Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1)

Without an agreement: Profits and losses allocated on the basis of the agreed value, as stated in company records, of the contributions made by each member — Ind. Code § 23-18-5-3 (distributions likewise, § 23-18-5-4). Source: Ind. Code § 23-18-1-16 (definition); Ind. Code § 23-18-4-4 (effect of written provisions) · verify ↗.

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Operating Agreement

of __________ · State of Indiana

This Operating Agreement (the "Agreement") is made effective __________ by the member(s) of __________ (the "Company"), a limited liability company organized under the Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1), with its principal office at __________ .

1. Formation & purpose. The Company was formed under Indiana law by filing its formation document with the state. Its purpose is: __________ , and any other lawful activity under the Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1).

2. Members & ownership. The membership interests are: __________ — ____%; __________ — ____%. For a single-member company, the sole member holds 100% and the second line is left blank.

3. Management. The Company is __________ . If manager-managed, the manager is __________ , who may bind the Company in the ordinary course of business; major decisions (admitting members, selling substantially all assets, dissolution, amending this Agreement) require the consent of members holding a majority of the membership interests.

4. Capital contributions. The members have contributed: __________ . No member is required to make additional contributions without their written consent.

5. Allocations & distributions. Profits and losses are allocated, and distributions made, in proportion to the ownership percentages in Section 2, at the times the members (or manager) determine, subject to the Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1)'s limits on distributions.

6. Records, amendment & law. The Company keeps its records at the principal office; each member may inspect them. This Agreement may be amended only in writing signed by all members. It is governed byIndiana law and is binding on the members, their successors, and assigns.

Member 1 signature / date
Member 2 signature / date

Generated with SealFormsReflects Indiana law · verified 2026

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    Why your Indiana LLC needs this — even single-member

    • It overrides the default rules. Without an agreement, the Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1) decides how profits are split and who can act for the company — not you.
    • It protects limited liability. A written agreement is core evidence that the LLC is a real, separate entity.
    • Banks and lenders ask for it. Opening a business account or getting a loan routinely requires it.

    Indiana law

    No — Indiana does not require an operating agreement (as of 2026): No requirement to adopt an operating agreement; the Act's default rules govern where the members have no agreement. Certain matters may only be altered in a WRITTEN operating agreement.. But without one, the default rules of the Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1) decide ownership, management, and profit questions for you — which is why one is strongly recommended even for single-member LLCs. Source: Ind. Code § 23-18-1-16 (definition); Ind. Code § 23-18-4-4 (effect of written provisions). Check the current Indiana LLC rules before relying on any default.

    Frequently asked questions

    Is an operating agreement required in Indiana?

    No — Indiana does not require an operating agreement (as of 2026): No requirement to adopt an operating agreement; the Act's default rules govern where the members have no agreement. Certain matters may only be altered in a WRITTEN operating agreement.. But without one, the default rules of the Indiana Business Flexibility Act (Ind. Code art. 23-18; short title per Ind. Code § 23-18-1-1) decide ownership, management, and profit questions for you — which is why one is strongly recommended even for single-member LLCs. Source: Ind. Code § 23-18-1-16 (definition); Ind. Code § 23-18-4-4 (effect of written provisions).

    Does a single-member LLC need an operating agreement?

    It is not usually legally required, but yes in practice: a written agreement helps prove the LLC is a separate entity (protecting limited liability), is routinely requested by banks and lenders, and controls what happens if you bring in a partner or pass the business on. For a single member, it is a short document — this template works for that case.

    Does the operating agreement get filed with the state?

    No. Unlike the formation certificate (articles of organization), the operating agreement is an internal document — you sign it, keep it with your records, and give each member a copy. Banks, lenders, and courts may ask to see it, but no Indiana agency records it.

    Can the agreement be oral in Indiana?

    Indiana's statute recognizes: "any written or oral agreement of the members as to the affairs of a limited liability company and the conduct of its business" — Ind. Code § 23-18-1-16 (Ind. Code § 23-18-1-16 (definition); Ind. Code § 23-18-4-4 (effect of written provisions)). Even where oral or implied agreements count, put yours in writing — proving an oral term in a dispute between members is exactly the fight the document exists to prevent.

    How does Indiana compare? See which states actually require an operating agreement, every claim cited to the state LLC act.

    How Indiana compares

    Computed from our 51-jurisdiction dataset (as of 2026). Source for Indiana: Ind. Code § 23-18-1-16 (definition); Ind. Code § 23-18-4-4 (effect of written provisions) ↗.

    • Indiana is one of 47 of 51 jurisdictions that leave the operating agreement optional (statutory default rules apply without one) (4 require an LLC to have an operating agreement).

    LLC operating agreement in other states

    More Indiana legal forms

    Different state? See LLC operating agreements by state →