You asked for it; we answered. Now available on our Resources Page are:
- A Template Operating Agreement, written for a Michigan Limited Liability Company (LLC) operating as a worker cooperative; and
- A User’s Guide to the Template Operating Agreement.
The Template is a sample operating agreement between Members of an LLC that is operating as a worker cooperative. It covers all the standard areas of cooperative governance, such as members, ownership, and distributions. It is meant to provide you with a basic foundation that you can then tailor to fit your own particular cooperative business. To that end, there are also explanatory notes in the text that help clarify its sections and provide other governance options for you to consider.
If you would like to use the template, we first recommend that you consult the User’s Guide. It identifies, in a much more concise manner, the main questions about cooperative governance and encourages you to answer them in your own practical way. If you first fill out the User’s Guide, it is then much easier for a legal professional to update the template to correspond to your particular preferences. We are of course available to help you do this as well.
We hope that these resources are useful, and that they help empower you to start or strengthen your cooperative business.